Asset manager SC Capital Partners has acquired a hotel in Kagoshima, Japan through its Japan Hospitality Fund I, while Keppel is reportedly selling its 80% stake in waste management firm 800 Super.
SC Capital Partners acquires hotel in Japan
Singapore-headquartered asset manager SC Capital Partners has acquired a 165-room hotel in Kagoshima, Japan through its Japan Hospitality Fund I, according to an announcement.
The property is situated in central Kagoshima, a key tourism hub in southern Kyushu known for its historical sites and transport links, including the Shinkansen and Kagoshima Airport.
SC Capital plans to rebrand the asset under the Oriental Express brand, operated by Hotel Management Japan Co Ltd (HMJ), an affiliated entity. The firm will implement refurbishment and operational upgrades to boost the hotel’s performance amid rising leisure travel.
Since 2010, SC Capital has invested over $1 billion in Japan’s hospitality sector across 59 hotels and more than 13,000 rooms. The firm also holds majority ownership of Japan Hotel REIT Advisors, the asset manager of Japan Hotel REIT Investment Corp, which has 51 hotels valued at over $3.4 billion.
Last month, the asset manager closed its sixth Asia Pacific opportunistic real estate fund—Real Estate Capital Partners VI—at $900 million.
Keppel said to sell stake in waste management firm 800 Super
Singapore-listed asset manager Keppel is considering selling its 80% stake in waste management firm 800 Super Holdings, according to a Bloomberg report that cited people familiar with the matter.
The report said Keppel is working with a financial adviser on the potential divestment although the sources said deliberations are ongoing and no final decision has been made.
A consortium comprising Keppel Asia Infrastructure Fund LP (KAIF) and Keppel Infrastructure jointly acquired the stake for S$304 million in 2022. The deal valued 800 Super at S$380 million, with KAIF and Keppel Infrastructure holding a 48% and 32% stake, respectively.
Founded in 1986, 800 Super is an environmental solutions provider and has four main operating segments—waste management, waste treatment, integrated public cleaning, and other environmental services.
