Nomura Real Estate Master Fund (TYO:3462) will acquire Best Western Hotel Fino Tokyo Akasaka in Japan from Ichiken (TYO:1847) for 8.7 billion yen, according to a bourse filing on Tuesday.
The acquisition of the 87-room hotel, scheduled to complete Sept. 1, is part of the fund's strategy to secure stable income and long-term portfolio growth by capitalizing on strong inbound tourism and business travel demand in the area.
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