Hotels & Hospitality Group today announced that it advised on a prime hotel sale located in Tokyo’s Ginza area. The firm advised a special purpose vehicle (SPV), controlled by Phoenix Property Investors, on the successful sale of the Quintessa Hotel Tokyo Ginza, located in central Tokyo, to an SPV established by Mitsui & Co. Digital Asset Management, Ltd.

According to JLL, the hotel has been acquired with the existing master lease remaining in place and will continue to be operated under the Quintessa hotel brand. The Quintessa Hotel Tokyo Ginza is situated in a prime location in Ginza close to the famous Kabukiza Theatre. The hotel is in close proximity to both the Higashi-Ginza and Ginza subway stations, providing guests with convenient access to the Haneda and Narita airports, luxury retail, dining, and entertainment options of Tokyo. Opened in 2019, the property comprises 134 guestrooms and a café restaurant on the first floor.

“This asset represents an exceptional and rare opportunity to acquire a hotel in Ginza, arguably Japan’s most sought after real estate sub-market. As accommodation demand continues to recover and financing terms remain attractive, we continue to see exceptional levels of interest for Japanese hotels. JLL is delighted to have advised on this exciting transaction, reaffirming our standing as the unmatched provider of hotel investment expertise in the dynamic Japanese market.” says Charlie Macildowie, Executive Vice President, Investment Sales Japan, JLL Hotels & Hospitality Group.

According to JLL, the first half of 2023 saw approximately JPY203 billion ($1.39 billion) of hotels change hands in Japan with the six-month volume representing a 65.4% increase on the first half of 2022. JLL expects this trend to continue into the second half of the 2023 with several transactions already closed or agreed.

Phoenix Property Investors (“Phoenix”) is an experienced, independently-owned and managed private equity real estate investment group. Founded in 2002, Phoenix has a successful track record of creating value and delivering attractive results for its investors and stakeholders by developing exceptional real estate investment opportunities in the office, residential, retail, commercial, logistics, hospitality and non-discretionary retail and sectors across over 20 first-tier Asia-Pacific cities.

Mitsui & Co. Digital Asset Management, Ltd. is Japan's first asset management company that provides a full range of services for structuring, managing, and selling digital securities funds backed by assets such as real estate and infrastructure. Through ALTERNA, a service that enables asset management with digital securities, the company will provide new options for investors who wish to build stable assets for the future.