Ascendas Hospitality Trust acquires Osaka portfolio of hotels for $126.1 mil

SINGAPORE (June 18): Ascendas Hospitality Trust (A-HTRUST) is acquiring a portfolio of three hotels in Osaka, Japan, for 10.29 billion yen ($126.1 million) via Ascendas Hospitality REIT.

The consideration represents a 2.9% discount to the latest valuation of the hotels, which comprise Hotel WBF Kitasemba West, Hotel WBF Kitasemba East and Hotel WBF Honmachi, of 10.6 billion yen.

The first two hotels’ acquisitions are expected to be completed by Sept 2018, while the acquisition of Hotel WBF Honmachi is expected to be completed by Jan 2019.

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