Savills Asia Pacific Hotel sales & investment Briefing - July 2014
investment transactions, representing a 13.9% decrease over Q2/2013 (US$1.97 billion). Two major transactions concluded in the second quarter provide good examples of investment market trends. Firstly, the sale of the broppongi Tokyo, Japan for JPY3.50 billion (US$34.5 million) at a cap rate of 4.9% to United Urban Corporation showed that the prime yield gap has been narrowing due to further compression in core markets such as Tokyo. Secondly, the acquisition of Sofitel Wentworth Sydney by Singaporean group, Frasers Centrepoint Limited, indicated that Sydney continues to be a priority destination in the country for Asian hotel investors.
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