Invincible Investment Acquires 10 Hotels Across Japan for JPY 34.3 Billion

Invincible Investment Corp. announced on August 25, 2025, that it has acquired trust beneficiary interests in 10 hotels across Japan for a total consideration of JPY 34.3 billion. The portfolio was purchased at an average expected NOI yield of 6.6%, bringing the REIT’s total assets under management to JPY 687.3 billion.

The sellers include Nippori TMK, Heijo TMK, Yakushima TMK, Umehana TMK, and Albula TMK.

The 10 assets are primarily resort-type hotels located in Aichi, Kagoshima, Mie, Gunma, Shizuoka, Kanagawa, Ibaraki, Kochi, and Fukuoka prefectures. All properties will continue to be operated by Iconia Hospitality, Inc. (formerly Mystays Hotel Management), Invincible’s key tenant.

Following this acquisition, Invincible Investment’s hotel portfolio will expand to 114 properties with 19,814 rooms, as the REIT continues its external growth strategy leveraging sponsor pipelines.

Key Facts

• Property Name: Irago Ocean Resort

  • Buyer: Invincible Investment Corp.

  • Seller: Nippori TMK

  • Transaction Price: JPY 6,900 million

  • Location: Tahara City, Aichi Prefecture

  • Access: JR Tokaido Shinkansen / Meitetsu Nagoya Main Line “Toyohashi” Station – approx. 70 min by car; Toyohashi Railway Atsumi Line “Mikawa Tahara” Station – approx. 35 min by car

  • Completion: 1968 (with subsequent renovations)

  • Number of Rooms: 154

  • Gross Floor Area: 17,449.59 sqm (approx. 187,865 sq. ft.)

• Property Name: Kirishima Kokusai Hotel

  • Buyer: Invincible Investment Corp.

  • Seller: Heijo TMK

  • Transaction Price: JPY 6,534 million

  • Location: Kirishima City, Kagoshima Prefecture

  • Access: JR Nippo Main Line “Kirishima Jingu” Station – approx. 30 min by car

  • Completion: 1971 (with subsequent renovations)

  • Number of Rooms: 188

  • Gross Floor Area: 21,321.88 sqm (approx. 229,495 sq. ft.)

• Property Name: Kamenoi Hotel Toba

  • Buyer: Invincible Investment Corp.

  • Seller: Yakushima TMK

  • Transaction Price: JPY 4,732 million

  • Location: Toba City, Mie Prefecture

  • Access: JR Sangu Line / Kintetsu Toba Line “Toba” Station – approx. 10 min by car

  • Completion: 1987 (partial expansion planned)

  • Number of Rooms: 68

  • Gross Floor Area: 8,183.80 sqm (approx. 88,090 sq. ft.)

• Property Name: Kamenoi Hotel Kusatsu Yubatake

  • Buyer: Invincible Investment Corp.

  • Seller: Umehana TMK

  • Transaction Price: JPY 4,682 million

  • Location: Kusatsu Town, Gunma Prefecture

  • Access: JR Agatsuma Line “Naganohara-Kusatsuguchi” Station – approx. 25 min by bus; Kusatsu Onsen Bus Terminal – approx. 10 min walk

  • Completion: 1968 (with subsequent renovations)

  • Number of Rooms: 80

  • Gross Floor Area: 6,223.41 sqm (approx. 66,950 sq. ft.)

• Property Name: Atagawa Ocean Resort

  • Buyer: Invincible Investment Corp.

  • Seller: Umehana TMK

  • Transaction Price: JPY 4,187 million

  • Location: Higashiizu Town, Kamo District, Shizuoka Prefecture

  • Access: Izu Kyuko Line “Izu-Atagawa” Station – 5 min walk

  • Completion: 1997 (renovated)

  • Number of Rooms: 75

  • Gross Floor Area: 8,453.14 sqm (approx. 90,990 sq. ft.)

• Property Name: Hotel Mystays Atsugi

  • Buyer: Invincible Investment Corp.

  • Seller: Nippori TMK

  • Transaction Price: JPY 3,177 million

  • Location: Atsugi City, Kanagawa Prefecture

  • Access: Odakyu Line “Hon-Atsugi” Station – 7 min walk

  • Completion: 1996 (renovated)

  • Number of Rooms: 180

  • Gross Floor Area: 3,750.60 sqm (approx. 40,370 sq. ft.)

• Property Name: Kamenoi Hotel Tsukubasan

  • Buyer: Invincible Investment Corp.

  • Seller: Albula TMK

  • Transaction Price: JPY 2,999 million

  • Location: Tsukuba City, Ibaraki Prefecture

  • Access: Tsukuba Express “Tsukuba” Station – approx. 40 min by shuttle bus

  • Completion: 1972 (with subsequent renovations)

  • Number of Rooms: 61

  • Gross Floor Area: 6,480.04 sqm (approx. 69,760 sq. ft.)

• Property Name: Kamenoi Hotel Kochi

  • Buyer: Invincible Investment Corp.

  • Seller: Yakushima TMK

  • Transaction Price: JPY 446 million

  • Location: Ino Town, Agawa District, Kochi Prefecture

  • Access: JR Dosan Line “Hakawa” Station – 11 min walk

  • Completion: 1997

  • Number of Rooms: 52

  • Gross Floor Area: 7,692.16 sqm (approx. 82,800 sq. ft.)

• Property Name: Kamenoi Hotel Chita Mihama

  • Buyer: Invincible Investment Corp.

  • Seller: Yakushima TMK

  • Transaction Price: JPY 372 million

  • Location: Mihama Town, Chita District, Aichi Prefecture

  • Access: Meitetsu Chita New Line “Chita Okuda” Station – approx. 5 min by car

  • Completion: 1977 (expanded in 2016)

  • Number of Rooms: 45

  • Gross Floor Area: 4,707.24 sqm (approx. 50,660 sq. ft.)

• Property Name: Kamenoi Hotel Yanagawa

  • Buyer: Invincible Investment Corp.

  • Seller: Yakushima TMK

  • Transaction Price: JPY 255 million

  • Location: Yanagawa City, Fukuoka Prefecture

  • Access: Nishi-Tetsu Omuta Line “Nishitetsu Yanagawa” Station – approx. 7 min by car

  • Completion: 1969 (with subsequent renovations)

  • Number of Rooms: 40

  • Gross Floor Area: 6,071.61 sqm (approx. 65,360 sq. ft.)