News release

JLL advises on sale of SH by the square hotel Kyoto Kiyamachi

This transaction highlights a continued interest for hospitality assets in Japan’s cultural capital.

December 22, 2023

Andrew Peck

+65 9823 7917

TOKYO, 22 December  2023 – JLL’s (NYSE:JLL) Hotels & Hospitality Group today announced that it advised Kasumigaseki Capital Co., Ltd.’s subsidiary on the successful sale of the SH by the square hotel Kyoto Kiyamachi to an undisclosed buyer advised by Anglo Fortune Capital Group.

The hotel is located within walking distance of Kyoto Kawaramachi and Kiyomizu Gojo Stations, providing convenient access to the city's major tourist attractions, including Kiyomizu Temple, Kenninji Temple, and Gion. It is also adjacent to Kiyamachi Dori, which has over 40 restaurants, cafes, and stores. Opened in 2018, the hotel consists of 75 guest rooms and a restaurant.

“The age and prime location of this asset was particularly attractive, and we are delighted to achieve a successful result for our client, Kasumigaseki Capital,” says James Abe, Managing Director, Investment Sales Japan, JLL Hotels & Hospitality Group.

“We are pleased to participate in the robust recovery of the vibrant Japanese hospitality market. This transaction marks our fourth hospitality deal in Japan over the last 12 months for Anglo Fortune Capital Group. We continue to identify and invest in real estate opportunities in Japan and in Australia and the United Kingdom in 2024/25.  We are delighted to have completed this transaction opposite the terrific JLL team who have performed with the utmost professional integrity, and we look forward to our next deal together,” says Benjamin Cho, Partner at Anglo Fortune Capital Group

According to the Japan National Tourism Organization (JNTO), the number of foreign visitors to Japan in October 2023 reached 2.51 million, surpassing the 2.49 million foreign visitors in October 2019. According to JLL, hotel transaction volumes in Japan reached approximately JPY262 billion for the eight months to August 2023, representing a 33.1% increase on the same period in 2022. JLL expects this trend to continue into the latter part of 2023 and 2024 with several transactions agreed or on the market.

About Kasumigaseki Capital Co., Ltd.  - Kasumigaseki Capital started by rebuilding a shopping center damaged by the Great East Japan Earthquake in 2011. Since then, Kasumigaseki Capital has continued to expand its operations by developing solar power plants, day-care centers, apartment hotels, logistics facilities, and healthcare-related facilities, as well as overseas operations. With the philosophy of “Turning challenges into value”, Kasumigaseki Capital will continue to address the social issues that lie ahead and focus on transforming them into future values.

About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit