SEB Asset Management has announced a second transaction in Japan, only two weeks after purchasing the Primegate office and commercial building in Tokyo. The company has acquired the 14-storey Hotel Alpha One in Yokohama, Japan’s second-largest city, for its Luxembourg-registered special fund, SEB Asian Property Fund II SICAV-SIF. The seller is Nomura Real Estate Development Co. Ltd. The parties agreed not to disclose the selling price.
The hotel is located in Yokohama city center, and has excellent links to the public transport network, being only a four-minute walk from Kannai station. Chinatown and Yamashita Park are only a few minutes’ walk away. The hotel was opened in 2011 and has 342 rooms. There is a supermarket and a restaurant on the ground floor. The building has total rental space of approximately 8,000 m² and is fully let long term.
Source: SEB Asset Management