Automatic

Gibraltar-based investor Yellow Tree has acquired the four-star, 192-room The Hoxton, Southwark in London, UK, from British real estate developer Norlake Hospitality for an amount reported to be around £150 million (£781,000 per room). The property is situated between the Waterloo train station and the Tate Modern museum. The hotel includes two restaurants, a bar and six meeting rooms, as well as five floors of co-working space that reportedly contribute almost one quarter of the property’s income. In July 2025, Yellow Tree also acquired the four-star, 218-room Hilton Garden Inn Bucharest Airport, as reported in this newsletter.

Star Asia Investment Corporation (“SAR”), a Japan-based Real Estate Investment Trust (“REIT”) managed by Star Asia Investment Management Co., Ltd. of the Star Asia Group, has completed several domestic transactions as part of a portfolio rebalancing strategy under its “New Mid-Term Plan.” The acquisitions include two hotel assets: the 204-key KOKO HOTEL Nagoya Sakae in Aichi Prefecture for JPY3.95 billion, and the 170-key KOKO HOTEL Sendai Station West in Miyagi Prefecture for JPY2.875 billion. This translates to approximately JPY19.4 million and JPY16.9 million per key respectively. Each property is leased under a hybrid rent structure consisting of fixed and variable components. Combined, they generate a monthly fixed rent of JPY12,375,000, and the variable rent component is calculated as 85% of the monthly Gross Operating Profit (“GOP”), minus the fixed rent, applicable only up to the amount of the fixed rent. In parallel, SAR divested one retail and one residential asset for a tot...