FEHT will pay 6 billion yen, or $53.5 million, which is at 23% discount off valuation, and also another $0.4 million for the operating company for this 319-room hotel.
Far East Hospitality Trust (FEHT) announced on Feb 20 that it is expanding its investing mandate to include overseas properties although the REIT’s primary focus will remain in Singapore. The REIT will also expand its mandate to include adjacent lodging properties.
To this end, FEHT announced in a separate filing that it is acquiring the Four Points by Sheraton Nagoya, to ride the growing popularity of Japan as a travel destination.
