KASUMIGASEKI Capital Sells Atami Ginza Hotel Project Site to Misawa Homes; Development Phase Begins
On July 15, 2025, Kasumigaseki Capital Co., Ltd. announced the completion of the sale of the hotel development site known as the “Atami Ginza Hotel Project,” located in Ginza-cho, Atami City, Shizuoka Prefecture, to Misawa Homes Co., Ltd. The project has now entered the development phase.
Following the sale, Kasumigaseki Capital will remain involved by providing project management (PM) services under contract with Misawa Homes. The planned development is a nine-story reinforced concrete hotel featuring 46 guest rooms, with a total site area of 500.69㎡ (approx. 5,390 sq. ft.) and a gross floor area of 2,662.50㎡ (approx. 28,654 sq. ft.). The property is scheduled to open in March 2028.
Kasumigaseki Capital has been expanding its nationwide portfolio of hotels tailored to group and multi-guest travelers, operating under several brands including fav, FAV LUX, seven x seven, and BASE LAYER HOTEL. The company adopts a capital recycling model in which it sources and plans development sites in-house, sells them to third parties, and continues involvement through PM and asset management (AM) roles. In February 2025, the company announced the sale of four hotel development sites in Nagoya Marunouchi, Kanazawa Katamachi, Asahikawa, and Ujiyamada, while also securing PM roles for each.
Key Facts
Project Name: Atami Ginza Hotel Project
Buyer: Misawa Homes Co., Ltd.
Seller: Kasumigaseki Capital Co., Ltd.
Transaction Price: Not disclosed
Location: 356-2 Ginza-cho, Atami City, Shizuoka Prefecture, Japan
Nearest Station: Approx. 5 minutes by car from JR Atami Station
Number of Floors: 9F
Total Guest Rooms: 46 (planned)
Gross Floor Area: 2,662.50㎡ (approx. 28,654 sq. ft.)
Completion: March 2028 (planned)