One REIT Investment Corporation has acquired OKINAWA GRAND MER RESORT for ¥5.555 billion. The 14-story hotel in central Okinawa has 300 guest rooms, and the company has entered into an agreement with the hotel operator covering fixed rent plus GOP-linked rent. The earnings forecasts for the 27th and 28th fiscal periods have been revised accordingly.
One REIT Investment Corporation announced the acquisition of OKINAWA GRAND MER RESORT. The purchase price is ¥5.555 billion, and the transaction involves the acquisition of ownership of the resort hotel.
The property is a 14-story hotel in central Okinawa, completed in 1992, with 300 guest rooms. Following the acquisition, an agreement with the hotel operator providing for fixed rent and GOP-linked rent will apply.
The earnings forecast for the 27th fiscal period (fiscal year ending February 2027) was revised accordingly. Distributions are expected to be ¥2,475 per unit, up 1.3% from the previous forecast, with retained earnings increased to ¥260 million.
The earnings forecast for the 28th fiscal period (fiscal year ending August 2027) was also announced. While higher renovation costs and interest expenses are assumed, the forecast reflects the full-period contribution from the property above and the previously announced gain on sale of ¥1.719 billion, resulting in expected profit growth of 12.6% from the previous period. Distributions are expected to be ¥2,780 per unit.