Ascendas Hospitality Trust bags master lease agreement for Japanese property

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Ascendas Hospitality Trust has entered into a memorandum of understanding (MOU) with Sotetsu Hotel Management to lease Hotel Sunroute Ariake, and Oakwood Apartments Ariake Tokyo entirely with effect from 1 April 2018.

The property is currently a dual-brand accommodation comprising of Hotel Sunroute Ariake which offers 790 guest rooms, and Oakwood Apartments Ariake Tokyo which offers 122 serviced apartments.

The complex is located in the Ariake district and in close proximity to Big Sight, an international convention centre, Ariake Colosseum and retail hubs such as Odaiba and Ginza.

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Ridzwan Rahmat has been analysing Singapore-listed REITs and business trusts, since 2008. For disclosure purposes, Ridzwan is currently vested in Mapletree Greater China Commercial Trust, Mapletree Industrial REIT and Mapletree Logistics Trust.

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