Japan Hotel REIT Investment Corporation will acquire the trust beneficiary rights of Hilton Fukuoka Sea Hawk from ML Estate.
The planned acquisition date is February 21, with an expected acquisition price of 64.35 billion yen. The appraised value is 71.7 billion yen, with a predicted NOI yield of 5.7%. The funds will be raised to cover the 64.35 billion yen.
ML Estate is a wholly owned subsidiary of Mizuho Leasing, which had acquired Hilton Fukuoka Sea Hawk from Hawks Town Special Purpose Company. The acquisition price was not disclosed.
Hilton Fukuoka Sea Hawk is a large-scale hotel with 35 floors above ground and 2 basement levels. It has 1,052 rooms, and features include Kyushu’s largest banquet hall accommodating about 3,500 guests, 30 meeting and banquet rooms, restaurants, a chapel, a large bath, an executive lounge, a fitness center, and a shopping arcade.
Hilton Fukuoka Sea Hawk opened in April 1995 as Sea Hawk Hotel & Resort, became JAL Resort Sea Hawk Hotel Fukuoka in March 2005, and received its current name in 2010.
The expected revenue for 2025 is 11.27 billion yen, with 6.515 billion yen from the accommodation section, 4.394 billion yen from the food and beverage section, and 365 million yen from other sources. The occupancy rate was 63.8% in 2024 and is predicted to be 68.8% in 2025. The rent structure comprises fixed and variable rents.
This acquisition will make it the fourth hotel leased by Hotel Management Japan (HMJ) Group. Anchor Town, a wholly owned subsidiary of HMJ, will lease it, and Hilton Worldwide Manage will be contracted to operate it.
Additionally, they sold Hakata Nakasu Washington Hotel Plaza on January 30 for 4.6 billion yen to swap assets.
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