Odyssey Japan Private Equity selected Shinhan Investment Corp as Japan Hospitality Advisor and Fund Manager
The joint venture will allow Shinhan’s clients to benefit from Odyssey’s Japan Hospitality investment stratey, which includes seeking investments in boutique hotels, Ryokan's (Traditional Japanese Inns) and Machiya's (Traditional Japanese Townhouses) in the Kansai region and other areas of Japan. The investment model is to acquire, re-position and operate. By deploying a value-add strategy, Odyssey aims to increase the value of the assets acquired both at the asset level and the operational level. Odyssey’s goal is to increase the value of the underlying assets through a combination of property enhancements and improving the operational efficiencies of the underlying assets. On the back of its strong and stable corporate governance and financial structure, Shinhan Investment Corp is fast emerging as a leader in Korea’s securities industry and provides securities trading, wealth management, and investment banking services, mergers and acquisitions, investment trusts, and corporate financing services. Shinhan Investment serves clients worldwide and is a subsidiary of Shinhan Financial Group, the second largest Bank in South Korea. Shinhan is, historically, the first bank in Korea, established in 1897 and now boasting more than 10,000 employees with more than US$260 billion in total assets. Coinciding with the partnership between Odyssey and Shinhan is the initial acquisition of an attractive boutique hotel in Kyoto, Hotel Owan with the closing completed on the Friday 26th of October. The Managing Director of Odyssey Japan CRE, Christopher Aiello said, “We are excited to have completed the acquisition of this wonderful boutique hotel today. We have been able to secure this asset over other bidders due to the long term vision we have for the Japanese Boutique Hospitality industry, the strength of the Odyssey team and our seasoned relationships in Japan. We were able to secure a very attractive debt package for this acquisition from Mitsublishi UFG, one of the leading banks in Japan with a LTV ratio of 65%, non-recourse debt, and with an annual cost of 1.6% pa.” Odyssey has long-term working relationships with the top leading individuals and firms in the Japanese commercial real estate and hospitality market and these partnerships include our panel banks, trust institutions, local asset managers, legal counsel, tax specialists and accountancy professionals.
Tags : INTERNATIONAL