The Abu Dhabi Investment Authority (ADIA) along with a consortium of investors led by Singapore-based SC Capital Partners has acquired a portfolio of 27 resort hotels in Japan for about $900 million.

The consortium, formed by Singapore-headquartered private equity real estate firm SC Capital Partners Pte Ltd (SCCP) , which also includes Goldman Sachs Asset Management, acquired the portfolio from Daiwa House Industry, a Japan-based home construction and real estate development company.

Japan Hotel REIT Advisors Co., Ltd. (JHRA), a company that is majority-owned by the SCCP Group will manage the portfolio, a joint statement issued on Wednesday said.

Mohamed Al Qubaisi, Executive Director of the Real Estate Department at the Abu Dhabi Investment Authority, said: “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."

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@lseg.com