J-REIT: Invincible Investment Co.'s announcement
Jul 18, 2018
byInvestment in Japan
Invincible Investment Corporation (“INV”) is pleased to announce the acquisition of 100% TK interest in two neighboring hotel properties in Grand Cayman, the Cayman Islands, the Westin Grand Cayman Seven Mile Beach Resort & Spa (the “Westin”) and the Sunshine Suites Resort (the “Sunshine Resort”). The TK investment in the two properties provides an unleveraged 9.2% NOI yield (Note 1) and is expected to offer growth opportunities based on recent renovations, tourism growth, and the airport expansion scheduled to be completed later this year (Note 1).
Invincible Investment Corporation (“INV”) announced the decision to acquire trust beneficiary interests in four domestic hotel properties (the “Four Domestic Hotel Properties”) and enter into new leasing contracts with respect to each of the Four Domestic Hotel Properties as decided on July 17, 2018 by Consonant Investment Management Co., Ltd. (“CIM”), the asset manager of INV.