According to the company, the divestment is in line with its strategy to recycle capital to unlock its long-term property values. The proceeds will allow Thakral to “explore fresh opportunities”.
Thakral Corporation (SGX:AWI
) will recognise a gain after tax of $1.7 million after divesting its hotel property in Kita-Umeda, Osaka, Japan.
The property was disposed of via the group’s pooled investment vehicle, Thakral Japan Properties. Thakral has an effective interest of 50% in the asset. The property, which is formerly known as R Hotels Inn, is a 120-room business hotel located in the heart of the city and within close proximity to Osaka and Umeda train stations. It was acquired in November 2017.
