Hoshino Resorts REIT,Inc. (TSE:3287) agreed to acquire Sakai Aso in Japan from Oval Corporation (TSE:7727) for approximately ¥580 million in cash on April 4, 2014. In a related transaction, Hoshino Resorts REIT,Inc. agreed to acquire 23 properties in Japan for ¥17.8 billion. Hoshino Resorts will take loan of ¥1 billion and ¥600 million with maturity date of May 1, 2015, loan of ¥1 billion with maturity date of May 2, 2017, loan of ¥1.1 billion with maturity date May 2, 2019 and loan of ¥1.3 billion with maturity date April 30, 2021 for property acquisition.

The deal is expected to close on May 2, 2014.