A consortium of Singapore’s SC Capital Partners, Goldman Sachs Asset Management, and a subsidiary of the Abu Dhabi Investment Authority (ADIA) has acquired 27 hotels in Japan for about $900 million, it said in a statement on Wednesday.

They said they acquired the properties from Daiwa House Industry, a Japan-based home construction and real estate development company.

The resort hotels are located in major destinations across the country with 7,124 rooms in total, the statement said.

SC chairman and founder Suchad Chiaranussati said the transaction is a rare opportunity to acquire one of the largest and prominent hotel portfolios in Japan.

“Japan’s real estate sector continues to deliver superior returns, and the country’s hotel market is well positioned for growth from the rebound of travel,” said Mohamed Al Qubaisi, executive director of the real estate department at ADIA.

The deal is an expansion of the relationship between SC Capital and ADIA, one of the world’s largest sovereign wealth funds.

They launched a $2 billion data centre investment strategy in November last year. Their joint program targets data centre investments across the Asia Pacific region with a primary focus on Japan, South Korea, Singapore and Australia.

Reuters