An unknown buyer signed a contract to acquire Dormy Inn Namba from Japan Hotel REIT Investment Corporation (TSE:8985) for ¥700 million on December 19, 2013. The transaction is expected to close on January 24, 2014. The transaction was approved by Japan Hotel REIT on December 19, 2013. Japan Hotel REIT will use the proceeds to prepay some loans. The transaction is expected to close on January 24, 2014. Japan Real Estate Solution Co., Ltd. acted as the broker for the transaction.

An unknown buyer completed the acquisition of Dormy Inn Namba from Japan Hotel REIT Investment Corporation (TSE:8985) on January 24, 2014.