Polaris Holdings Co (TYO:3010) made a Tokumei Kumiai investment of 500 million yen in a special purpose company to acquire the trust beneficiary interest in KOKO HOTEL Osaka Namba Sennichimae, according to its Tokyo bourse filing on Friday.
The hotel property's acquisition price will fall within the appraisal value range obtained by the special purpose company.
This strategic move is part of Polaris's collaboration with Star Asia Group, aiming to generate management fees, distribution gains from hotel operations, and potential capital gains from future sales.
The hotel is scheduled to open on May 29, with operations entrusted to Polaris's subsidiary, Fino Hotels Co.
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