Polaris Holdings, Star Asia Group Make Third Joint Investment in Newly Opened Kaihin-Makuhari Hotel
Johnstown Godo Kaisha acquired real estate trust beneficiary interests in KOKO HOTEL Premier Tokyo Bay Makuhari, a hotel in Hibino 2-chome, Mihama Ward, Chiba City, in March 2026. The seller was Shinnihon Corporation. Johnstown is a special purpose company established in April 2025, and Polaris Holdings Co., Ltd. has invested JPY 1 billion through a silent partnership (tokumei kumiai) contribution as its third joint investment with the Star Asia Group.
The property has 14 above-ground floors and 301 guest rooms in total, completed in 2026. It is located a one-minute walk from Kaihin-Makuhari Station on the JR Keiyo Line. Polaris Holdings has entered into a 20-year fixed-term building lease agreement with Johnstown, under which rent is variable based on the hotel's performance. The hotel opened as KOKO HOTEL Premier Tokyo Bay Makuhari on June 18 of the same year (see related article: Hotel Opens in Kaihin-Makuhari by Polaris Holdings).
Through joint investments with the Star Asia Group, Polaris invested in an SPC targeting KOKO HOTEL Tsukiji Ginza in 2021 and recorded a distribution gain of approximately JPY 700 million upon its sale in 2024. In May 2025, it also invested JPY 500 million in KOKO HOTEL Osaka Namba Sennichimae. This latest investment marks the third joint investment, through which Polaris expects income from hotel operations as well as distribution gains from the silent partnership contribution and future gains from the sale of trust beneficiary interests.
Key Facts
- Property Name: KOKO HOTEL Premier Tokyo Bay Makuhari
- Buyer: Johnstown Godo Kaisha
- Seller: Shinnihon Corporation
- Acquisition Date: March 27, 2026
- Acquisition Type: Real estate trust beneficiary interests
- Location: 2-7-1 Hibino, Mihama Ward, Chiba City, Chiba Prefecture
- Nearest Station(s): One-minute walk from Kaihin-Makuhari Station on the JR Keiyo Line
- Opening: June 18, 2026
- Number of Floors: 14F, steel-frame construction
- Use: Hotel / Retail / Nursery School
- Number of Guest Rooms: 301
- Operator: Polaris Holdings Group
