United Urban Investment Corporation (TSE:8960) agreed to acquire trust beneficial interest in RIHGA Royal Hotel Kokura ARUARU City from Apaman Co., Ltd. (JASDAQ:8889) for ¥16.6 billion on January 11, 2018. As on January 12, 2018, United Urban Investment Corporation signed a sale and purchase agreement to acquire trust beneficial interest in RIHGA Royal Hotel Kokura ARUARU City from Apaman Co., Ltd. The transaction will be funded by cash on hand of United Urban Investment Corporation. For the year ended December 31, 2017, RIHGA Royal Hotel Kokura ARUARU City reported revenue of ¥1.2 billion.

The transaction is expected to be completed by January 26, 2018. Tanizawa Sogo Appraisal Co., Ltd. acted as a appraiser and Sanko Soflan Company Inc. acted as broker in the transaction.