Nippon Accommodations Fund Inc. (TSE:3226) entered into a contract to acquire Park Axis Kikukawa from Mitsui Fudosan Residential Co., Ltd. for ¥2.4 billion on March 22, 2022. The consideration will be paid in full at the time of handover. The acquisition will be financed by borrowings and own funds. The deal is expected to close on April 4, 2022. There will be a minor impact of the acquisition on the financial results of Nippon Accommodations Fund Inc. for the period ending August 31, 2022.

Nippon Accommodations Fund Inc. (TSE:3226) completed the acquisition of Park Axis Kikukawa from Mitsui Fudosan Residential Co., Ltd. on April 4, 2022.