Astro Japan Pays $15M For New Hotel In Fukuoka

Law360, New York (March 30, 2017, 4:41 PM EDT) -- Astro Japan Property Group Ltd. on Thursday said it has bought a 117-room newly constructed hotel designed for business travelers in the Japanese prefecture of Fukuoka for 1.6 billion yen ($15 million).

The property group’s acquisition of the limited service Hotel WBF Fukuoka Tenjin Minami, newly completed in 2017, represents a discount of about 3.6 percent on an independent 1.66 billion yen valuation of the new hotel, Astro Japan said.

Eric Lucas, senior adviser to Sydney, Australia-based Astro Japan Property Group, said in a statement that...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.