Frasers Hospitality acquires China, Japan properties

From left: The two properties in China and Japan that were recently acquired

Frasers Hospitality, a strategic business unit of Frasers Property, has formed two joint ventures with established real estate players, Tishman Speyer and Alyssa Partners, in China and Japan, respectively.

As part of these joint ventures, Frasers Hospitality has entered into two sale and purchase agreements to acquire its inaugural premium rental apartment assets in Shenzhen, China; and Osaka, Japan with a combined asset value of approximately S$170 million (US$126 million).

From left: The two properties in China and Japan that were recently acquired

The 325-unit premium rental apartment in Shenzhen, China, is a leasehold asset jointly acquired with Tishman Speyer. Situated in the heart of the Luohu commercial and shopping district, the property, which will be managed and branded under Frasers Hospitality, forms part of a mixed-use development project that topped off last year and is slated to open in the 4Q2024.

The 124-unit premium rental apartment in Osaka, Japan, is a freehold asset acquired through a joint venture with Alyssa Partners. Situated in the Namba precinct, the property is currently operational and at close to full occupancy.

The acquisitions are in line with Frasers Hospitality’s post-pandemic transformation and expansion strategy to evolve into an international lodging real estate player and strengthen its position and growth as an investor of choice in the long-stay lodging segment.

The pair of acquisitions adds to Frasers Hospitality’s expanding portfolio in North Asia with close to 3,400 units in 16 properties across China, Japan and South Korea. Following the recent signing of a management agreement in Chengdu, China, under the Modena brand, there will also be a total of 11 properties in multiple cities across North Asia slated to open over the next three years.

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