JLL’s (NYSE:JLL) Hotels & Hospitality Group today announced that it advised Kasumigaseki Capital Co., Ltd.’s subsidiary on the successful sale of the SH by the square hotel Kyoto Kiyamachi to an undisclosed buyer advised by Anglo Fortune Capital Group.

The hotel is located within walking distance of Kyoto Kawaramachi and Kiyomizu Gojo Stations, providing convenient access to the city's major tourist attractions, including Kiyomizu Temple, Kenninji Temple, and Gion. It is also adjacent to Kiyamachi Dori, which has over 40 restaurants, cafes, and stores. Opened in 2018, the hotel consists of 75 guest rooms and a restaurant.

“The age and prime location of this asset was particularly attractive, and we are delighted to achieve a successful result for our client, Kasumigaseki Capital,” says James Abe, Managing Director, Investment Sales Japan, JLL Hotels & Hospitality Group.

“We are pleased to participate in the robust recovery of the vibrant Japanese hospitality market. This transaction marks our fourth hospitality deal in Japan over the last 12 months for Anglo Fortune Capital Group. We continue to identify and invest in real estate opportunities in Japan and in Australia and the United Kingdom in 2024/25.  We are delighted to have completed this transaction opposite the terrific JLL team who have performed with the utmost professional integrity, and we look forward to our next deal together,” says Benjamin Cho, Partner at Anglo Fortune Capital Group.

According to the Japan National Tourism Organization (JNTO), the number of foreign visitors to Japan in October 2023 reached 2.51 million, surpassing the 2.49 million foreign visitors in October 2019. According to JLL, hotel transaction volumes in Japan reached approximately JPY262 billion for the eight months to August 2023, representing a 33.1% increase on the same period in 2022. JLL expects this trend to continue into the latter part of 2023 and 2024 with several transactions agreed or on the market.

About Kasumigaseki Capital Co., Ltd. - Kasumigaseki Capital started by rebuilding a shopping center damaged by the Great East Japan Earthquake in 2011. Since then, Kasumigaseki Capital has continued to expand its operations by developing solar power plants, day-care centers, apartment hotels, logistics facilities, and healthcare-related facilities, as well as overseas operations. With the philosophy of “Turning challenges into value” Capital will continue to address the social issues that lie ahead and focus on transforming them into future values.

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James Abe, Managing Director, Investment Sales Japan, JLL’s Hotels & Hospitality Group