Press Release hausInvest hotel in Kyoto sold
31.10.2024 • 3 Reading Time
Highlights
- The buyer is a special purpose vehicle with the global real estate service provider CBRE serving as the asset manager.
- As a consequence hausInvest is currently no longer present in Japan.
Commerz Real has sold the Onyado Nono Kyoto Hotel from the portfolio of its Hausinvest open-ended real estate fund. The buyer is a special purpose vehicle with the global real estate service provider CBRE serving as the asset manager. As a consequence Hausinvest – which acquired the property upon its completion in 2020 – is currently no longer present in Japan.
We have utilised the economically favourable location of the hotel and the long remaining term of the lease agreement for a planned sale with good conditions. As Japan, unlike Europe, is still in a market environment with rising interest rates, future declines in real estate sale prices cannot be ruled out.
In March and July 2024 the Japanese central bank raised its base rates for the first time in 17 years.
The Onyado Nono Kyoto Hotel is located in the centre of the former imperial city of Kyoto, a metropolis with more than a million inhabitants, and within walking distance of the central station. It has 472 rooms on nine floors and is operated by Kyoritsu Maintenance as a typical Ryokan-style inn for travellers, meaning that the rooms are fitted with sliding doors using ‘Washi’, the traditional Japanese paper, and tatami mats. In addition there is a classical, gender-separated Japanese thermal bath (‘Onsen’).
The Onyado Nono Kyoto Hotel is located in the centre of the former imperial city of Kyoto, a metropolis with more than a million inhabitants, and within walking distance of the central station. It has 472 rooms on nine floors and is operated by Kyoritsu Maintenance as a typical Ryokan-style inn for travellers, meaning that the rooms are fitted with sliding doors using ‘Washi’, the traditional Japanese paper, and tatami mats. In addition there is a classical, gender-separated Japanese thermal bath (‘Onsen’).
About Commerz Real Group
Commerz Real, a Commerzbank Group company, stands for 52 years of market experience and a managed volume of around {{assetundermanagement}} billion euros. It combines comprehensive asset management know-how and broad structuring expertise to create its characteristic range of services comprising asset-oriented fund products and customised financing solutions. The range of funds includes the open-ended property fund Hausinvest, the first private investor impact fund with a real asset focus Klimavest, institutional investment products and entrepreneurial investments under the CFB Invest brand.
Media contact
Commerz Real and real estate