Thakral Corp acquires $66 mil worth of hotel & office properties in Osaka

SINGAPORE (Oct 1): Thakral Corporation says it has acquired a hotel and two office properties in Osaka, Japan, valued at JPY5.46 billion ($66 million) in total.

The group’s move comes as part of its overall strategy to broaden its asset & earnings base in order to capitalise on Japan’s strong economic fundamentals and tourism boom, according to Thakral in a press release on Monday.

Its investments in two new properties, namely Hotel White Bear Family (WBF) Namba Motomachi and Utsuo East Building, have been made through Thakral’s new holding structure in Japan via TJPP, a pooled investment vehicle, and its indirect subsidiary SJ Property Investments, which is held by TJPP. Thakral will hold about 50% interest in TJPP.

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