Invictus Developments, a Singapore-based real estate investment firm managing over $500 million in assets across Singapore and Australia, announces its first acquisition in Japan with the purchase of lyf Ginza Tokyo.

Invictus acquired lyf Ginza Tokyo from Ascott Serviced Residence Global Fund, a private lodging fund under global real asset manager CapitaLand Investment (CLI). The 140- room lyf Ginza Tokyo will continue to be managed by The Ascott Limited (Ascott), the wholly owned lodging business unit of CLI. Opened in November 2023, the lyf (“live your freedom”)-branded property meets the growing demand from next-generation travellers for experience-led social living

Mr Chayadi Karim, Principal of Invictus Developments, stated, “lyf Ginza Tokyo marks our inaugural acquisition in Japan.

We anticipate this will be the first of many hotel acquisitions in Japan over the coming years. We remain optimistic about the Japanese hospitality market, driven by robust tourism growth and its status as a premier destination for all travellers.”

He added, “Our focus on hospitality investments in key gateway markets across the Asia Pacific region will continue as we expand our portfolio of boutique, lifestyle, and upper upscale hotels in Singapore, Australia, and Japan. We are also excited to collaborate with Ascott and the lyf brand and hope to deepen this partnership further not just in Japan, but across the markets we invest in.”

Mr Mak Hoe Kit, Managing Director, Lodging Private Equity Funds, CapitaLand Investment said, “The divestment of lyf Ginza Tokyo marks our first deal with Invictus Developments. The property showcases our ability to add value through asset enhancement initiatives and leveraging Ascott’s operational expertise to optimise the performance of our assets. The green-certified property exceeded the target average daily rate and occupancy rate within three months of its opening. We look forward to deepening our relationship with Invictus Developments in the future.”

The sale of lyf Ginza Tokyo was brokered by JLL. Mr Nihat Ercan, JLL’s CEO for Asia Pacific, Hotels & Hospitality, commented, “We are witnessing a resurgence in hotel activity in Japan post-COVID. With its strong tourism sector, weak currency, and relatively low borrowing costs, Japan is an ideal investment destination for foreign investors.”

lyf Ginza Tokyo boasts a prime location within Tokyo’s most glamorous shopping district, Ginza. It is conveniently situated just 2 minutes from Kyobashi station and 10 minutes from the major interchange, Tokyo station.

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