- Buyer is a fund vehicle managed by global real estate service provider CBRE
- hausInvest first says goodbye to the sale of the hotel from Japan
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Commerz Real sold the “Onyado Nono Kyoto” hotel from the portfolio of its open-ended real estate fund Hausinvest. Buyer is a fund vehicle managed by global real estate service provider CBRE. This means that the house investment, which had acquired the property when it was completed in 2020, is initially bidding farewell to Japan.
We took advantage of the hotel’s good economic position and the long remaining term of the lease agreement for a planned sale at good conditions. As Japan, unlike Europe, is still in a market environment of rising interest rates, falling real estate sales prices cannot be ruled out in the future.
Mario Schüttauf
hausInvest fund manager since 2007
In March and July 2024, the Japanese central bank raised its key interest rates for the first time in 17 years.
The “Onyado Nono Kyoto” hotel is located in the centre of the former imperial city and million metropolis of Kyoto and is within walking distance of the central train station. It has 472 rooms on nine floors and was designed by the operator Kyoritsu Maintenance as a typical Ryokan (literally: holiday home). For example, the rooms are decorated with tatami mats and the sliding doors are lined with Japanese paper (washi). There is also a classic Japanese thermal bath called Onsen.
About Commerz Real
Commerz Real AG is the asset manager of the Commerzbank Group and has 50 years of international market experience. The company combines extensive know-how in asset management with broad structuring expertise and uses this expertise to develop tangible asset-oriented fund products and individual investment solutions in the real estate and infrastructure sectors. As a leasing service provider of Commerzbank, Commerz Real Mobilienleasing also offers needs-based leasing concepts.
Since 2025, the Commerzbank Group’s asset management holdings have been bundled with Commerz Real AG. In addition to Commerz Real’s brands and products, these include the Aquila Capital investment company with a focus on sustainable tangible asset investments in the area of energy infrastructure and Yellowfin as a boutique for liquid investment strategies. Under the umbrella of Commerz Real AG, a total of around 1,000 employees manage assets of around EUR 55 billion at around 20 locations.
