Ichigo Hotel REIT to Sell Comfort Hotel Suzuka for JPY 430 Million

Ichigo Hotel REIT Investment Corporation announced on August 8 that it has decided to sell the Comfort Hotel Suzuka in Suzuka City, Mie Prefecture. The planned sale price is JPY 430 million, compared to an appraised value of JPY 362 million.

The property is located about a three-minute walk from the west exit of Shiroko Station on the Kintetsu Nagoya Line. Built in 2007, the six-story steel-framed building has a gross floor area of 2,186.65 sqm (approx. 23,536 sq. ft.) and offers a total of 105 guest rooms: 100 doubles, four twins, and one universal room.

As of the end of July 2024, Ichigo Hotel REIT owned 30 hotels, with total acquisition costs of JPY 69,863 million, an occupancy rate of 100.00%, and a total appraised value of JPY 77,745 million, building a solid portfolio.

Key Facts

• Property Name: Comfort Hotel Suzuka

• Buyer: Not disclosed

• Seller: Ichigo Hotel REIT Investment Corporation

• Transaction Price: JPY 430 million

• Location: 14-26, Shiroko Ekimae, Suzuka City, Mie Prefecture

• Nearest Station: Shiroko Station, Kintetsu Nagoya Line, approx. 3-minute walk

• Completion: July 17, 2007

• Number of Floors: 6F

• Total Guest Rooms: 105