Nippon Accommodations Fund buys Japan hotel portfolio for $21.1m

Nippon Accommodations Fund Inc. (NAF), a publicly traded Japanese real estate investment trust (J-REIT), has purchased a portfolio sale of three hotels in Japan for JPY 3.1 billion (approximately $21.2 million).

JLL’s Hotels & Hospitality Group has advised the seller, a domestic limited liability company or GK. Hotels are located in Nishi Akashi, Matsuyama, and Naha, Japan.

“We continue to see robust investment appetite for hotel assets throughout Japan. These three hotels are well positioned to provide stable income to the investor as Japan continues to experience a strong recovery in tourism and travel. JLL is delighted to have advised on this exciting portfolio transaction and assisted NAF in securing these three hotels,” said James Yukio Abe, managing director, head of investment sales, Japan, JLL Hotels & Hospitality Group.

NAF is a Japan-based J-REIT focused on achieving sustainable growth and stable mid- to long-term earnings through investm