Worth reading
36Immaterial
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
210
¥100 million ($140 million)Wording
Avoiding a definitive answer
How definitive the wording is.This transaction
Formation of Hotel-Focused Private Real Estate Fund No. 2 and second close of the Multifamily Asset FundCounterpartyHillhouse Investment Management, Ltd., Government-backed fund
Disclosing companyDaiwa Securities Group Inc.
Execution Date / Effective Date30 April 2026 (the formation and management launch date of Hotel-Focused Private Real Estate Fund No. 2; announcement of the second close of the Multifamily Asset Fund)
Consideration and expenses
Acquisition priceApproximately $140 million (approximately ¥21.0 billion) for the portfolio of properties to be additionally acquired by the Multifamily Asset Fund
Funding arrangementsFor Hotel-Focused Private Real Estate Fund No. 2, capital commitments were secured from multiple domestic investors. The funding method for the other acquisitions is Not disclosed.
Procedures and assumptions
Management structure after acquisitionSamty Asset Management Co., Ltd. will be solely responsible for fundraising and management of Hotel-Focused Private Real Estate Fund No. 2. Hotel operations will be handled by AAPC Japan Co., Ltd. Hillhouse will support the Multifamily Asset Fund as general partner and will be involved through Rava Partners.
| Item | Details |
|---|---|
| Transaction name | Formation of Hotel-Focused Private Real Estate Fund No. 2 and second close of the Multifamily Asset Fund |
| Counterparty name | Hillhouse Investment Management, Ltd., Government-backed fund |
| Acquisition price | Approximately $140 million (approximately ¥21.0 billion) for the portfolio of properties to be additionally acquired by the Multifamily Asset Fund |
| Funding arrangements | For Hotel-Focused Private Real Estate Fund No. 2, capital commitments were secured from multiple domestic investors. The funding method for the other acquisitions is Not disclosed. |
| Execution Date / Effective Date | 30 April 2026 (the formation and management launch date of Hotel-Focused Private Real Estate Fund No. 2; announcement of the second close of the Multifamily Asset Fund) |
| Management structure after acquisition | Samty Asset Management Co., Ltd. will be solely responsible for fundraising and management of Hotel-Focused Private Real Estate Fund No. 2. Hotel operations will be handled by AAPC Japan Co., Ltd. Hillhouse will support the Multifamily Asset Fund as general partner and will be involved through Rava Partners. |
Items this document does not state (26)
Name of the Subject CompanyBusiness Description of the Subject CompanyLocation of the Subject CompanyCapital Stock of the Subject CompanyDate of Establishment of the Subject CompanyNet Sales of the Subject CompanyOperating Profit of the Subject CompanyNet Income of the Subject CompanyNet Assets of the Subject CompanyExpenses other than the acquisition priceType of ConsiderationMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodNumber of shares acquiredVoting rights ownership percentageGoodwill amountAmount of extraordinary income (loss)Impact on Business PerformanceDate of board resolutionContract DateValuation methodologyIndependent valuation institutionSpecial CommitteeConditions Precedent to Execution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The company cited expectations for growth in inbound and domestic tourism against a backdrop of continued growth in tourism. It also explained that Samty is pursuing a strategic transition to a fully integrated real estate investment and asset management platform and aims to maximize asset value through collaboration with trusted domestic and overseas partners. For the multifamily properties, it also cited access to public transportation, solid population trends and strong tenant demand.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.