MIRAI Corp. to Acquire Hotel in Kyoto's Higashi-Kujo for Approximately JPY 3.55 Billion

MIRAI Corp., managed by Mitsui & Co., IDERA Partners, Inc., decided on August 3, 2026, to acquire Randor Hotel Kyoto Suites, an apartment hotel in Higashi-Kujo, Minami Ward, Kyoto City. The scheduled acquisition date is August 7, 2026, and the scheduled acquisition price is JPY 3.55 billion. The seller is undisclosed.

The property is located a nine-minute walk from Tofukuji Station on the JR Nara Line and Keihan Main Line, a ten-minute walk from Kujo Station on the Kyoto Municipal Subway Karasuma Line, and a sixteen-minute walk from Kyoto Station on multiple lines. Completed in 2019, the building has six above-ground floors and 60 guest rooms. Room sizes range from 46 to 81 sq. m (approx. 500-900 sq. ft.), accommodating 4 to 7 guests, and operations are handled by Satisfill, which operates the Randor Hotel brand, among others.

Rent combines a fixed base rent with an upside rent linked to the hotel's Gross Operating Profit (GOP). The projected NOI yield based on the fixed rent is 5.2%, securing stable income while also allowing for revenue growth in line with operating performance. MIRAI Corp. valued the property for addressing growing demand in Kyoto for group and long-stay accommodations, an area in which the supply of apartment hotels capable of meeting such demand remains limited.

This acquisition is part of an asset replacement that combines the disposition of THINGS Aoyama with the acquisition of Smile Hotel Kumagaya (see related article: MIRAI To Acquire Hotel in Kumagaya). Following this series of asset replacements, MIRAI Corp.'s portfolio will comprise 45 properties, totaling JPY 181.992 billion on an acquisition price basis.

Key Facts

• Property Name: Randor Hotel Kyoto Suites
• Buyer: MIRAI Corp.
• Seller: Undisclosed
• Acquisition Method: Real estate trust beneficiary interest
• Operator: Satisfill Co., Ltd.
• Location: 38-1 Higashi-Kujo Kitamatsunoki-cho, Minami Ward, Kyoto City, Kyoto Prefecture
• Nearest Station(s): Nine-minute walk from Tofukuji Station on the JR Nara Line and Keihan Main Line / Ten-minute walk from Kujo Station on the Kyoto Municipal Subway Karasuma Line / Sixteen-minute walk from Kyoto Station on JR, the Tokaido Shinkansen, Kintetsu Railway, and the Kyoto Municipal Subway
• Contract Date: August 3, 2026
• Scheduled Acquisition Date: August 7, 2026
• Scheduled Acquisition Price: JPY 3.55 billion
• Appraisal Value: JPY 4.91 billion (as of July 31, 2026, Japan Valuers Co., Ltd.)
• Appraisal NOI Yield: 5.2%
• NOI Yield After Depreciation: 4.6%
• Completion: July 2019
• Opening: October 2019
• Number of Floors: 6F (reinforced concrete construction)
• Area: Site area of approximately 570 tsubo (approx. 20,300 sq. ft.) / Gross Floor Area of approximately 1,128 tsubo (approx. 40,100 sq. ft.)
• Number of Guest Rooms: 60
• Room Size: 46-81 sq. m (approx. 500-900 sq. ft.)
• Number of Tenants: 1
• Lease Type: Fixed rent and variable rent
• Occupancy: 100.0% (as of end of June 2026)
• Property Manager: Marimo Co., Ltd.