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CDL to sell Osaka hotel to Blackstone-managed funds for JPY14 bil

Kalynskye Adrian

/ EdgeProp Singapore

November 25, 2025 3:10 PM SGT

propertyeditor@edgeprop.sg

propertyeditor@edgeprop.sg

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The Bespoke Hotel Osaka Shinsaibashi that will be sold for JPY 14 billion. (Photo: City Developments Limited)

The Bespoke Hotel Osaka Shinsaibashi that will be sold for JPY 14 billion. (Photo: City Developments Limited)

City Developments Limited (CDL) is selling Bespoke Hotel Osaka Shinsabaishi, a 256-room hotel in Osaka, Japan, for JPY14 billion ($117 million), or JPY54.7 million ($457,000) per key. In a Nov 25 release, the company says its indirect wholly owned subsidiary, M&C Sakura TMK, has entered into a purchase and sale agreement to divest the hotel to real estate funds managed by Blackstone. The proposed divestment will be completed in December.

Situated in Osaka’s Shinsaibashi commercial district, the hotel opened in 2019. It is near the Shinsaibashi-suji shopping street and Midosuji Avenue, with Nagahoribashi and Shinsaibashi stations on the Osaka Metro line within walking distance. CDL acquired the hotel in August 2023 for JPY8.5 billion, or JPY33.2 million per key.

The deal marks the group’s fourth major capital recycling transaction this year. This follows the sale of its 50.1% stake in the South Beach mixed-use development to IOI Properties Group; the sale of Piccadilly Galleria, the retail podium at Piccadilly Grand; and the divestment of a 250-unit multifamily asset in Sunnyvale, California, bringing its total divestments to over $1.8 billion year-to-date.

Read also: CDL sells Silicon Valley multifamily asset for US$143.5 mil

Kwek Eik Sheng, CDL’s group COO, says, “This well-timed divestment demonstrates CDL’s ability to identify the right opportunities, taking advantage of Japan’s strong hospitality demand, and executing well to drive and unlock value since acquiring the asset just over two years ago.”

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