Minato, Tokyo — Hotel Cap Rates & Price per Sqm
6 transactions from J-REIT timely disclosures｜Last updated: November 1, 2026 (refreshed weekly)
Transactions
6
Median deal cap rate (all time)
3.80%
Deal cap rate range (last 3 years)
3.40–3.70%
Avg. price (all time)
¥6.18bn
Properties appraised
7
Median appraisal cap rate
3.70%
Appraisal cap rate range
3.3–4.0%
Period ends
2025/12–2026/06
Cap rates at transaction
From acquisition/disposition notices, as of each deal (dates vary by deal)
1 transactions were disclosed in the last 12 months. The all-time median cap rate across 6 deals is 3.80%.
Transaction cap rate trend (each deal + quarterly median)
Last 5 years. Grey dots are individual deals; the red line is the quarterly median. The segment into the quarter in progress (deals so far) is dashed. Use the number of dots to spot quarters with few deals. Calculated from cap rates disclosed in acquisition/disposition notices (appraisal NOI yield at the time of each deal). These differ from periodic appraisals (current valuations), shown separately below. See the table below for individual sources.
All transactions (6)
| Source | |||||
|---|---|---|---|---|---|
| 2026.09 | Best Western Hotel Fino Tokyo Akasaka | ¥8.70bn | 3.40% | 2020 · 6 yrs | REIT-IR ↗ |
| 2023.12 | Sotetsu Fresa Inn Tokyo Roppongi (Additional Acquisition) | ¥4.95bn | 3.70% | 2017 · 9 yrs | REIT-IR ↗ |
| 2023.03 | Sotetsu Fresa Inn Shimbashi Karasumoriguchi | ¥8.40bn | 3.90% | 2008 · 18 yrs | REIT-IR ↗ |
| 2023.03 | MIMARU Tokyo Akasaka | ¥3.12bn | 3.50% | 2018 · 8 yrs | REIT-IR ↗ |
| 2020.07 | Sotetsu Fresa Inn Shimbashi Karasumoriguchi | ¥8.00bn | 3.90% | 2008 · 18 yrs | REIT-IR ↗ |
| 2020.03 | Hotel Gracery Tamachi | ¥3.88bn | 4.10% | 2008 · 18 yrs | REIT-IR ↗ |
Periodic appraisals (current valuations)
Each property’s latest period-end appraisal. Aligned in time, so current levels can be compared
Periodic appraisals (period-end valuations)
Minato · Hotel: 7 properties · period ends 2025/12–2026/06 · median 3.70% (3.3%–4.0%)
Number of properties per 0.1% cap rate band. The dark bar is the band containing the median.
Click a heading to sort
| Source | ||||
|---|---|---|---|---|
| ホテルマイステイズプレミア赤坂Invincible Investment Corporation | 3.7% | ±0 | 2026/06 | Filing ↗ |
| レム六本木ビルKDX Realty Investment Corporation | 3.3% | ±0 | 2026/04 | Filing ↗ |
| the b 赤坂Hoshino Resorts REIT Investment Corporation | 4.0% | ±0 | 2026/04 | Filing ↗ |
| MIMARU東京赤坂Daiwa House REIT Investment Corporation | 3.5% | ±0 | 2026/02 | Filing ↗ |
| 相鉄フレッサイン東京六本木Hulic Reit, Inc. | 3.6% | – | 2026/02 | Filing ↗ |
| ヒルトン東京お台場Japan Hotel REIT Investment Corporation | 3.7% | +20 | 2025/12 | Filing ↗ |
| Sotetsu Fresa Inn Shimbashi KarasumoriguchiJapan Hotel REIT Investment Corporation | 3.7% | ±0 | 2025/12 | Filing ↗ |
Direct capitalization rates from each property’s latest period-end appraisal, for properties of the same use in the same city/ward (period ends within the last year; from J-REIT annual securities reports and results materials). These differ from acquisition cap rates (chart and deal list above) and compare current valuations regardless of deal timing. Values for the same property can differ by appraiser or ownership share. Reference information only, not a recommendation.
See appraisals in Minato · Hotel as a list →
FAQ
What is the average Hotel cap rate in Minato, Tokyo?
The median cap rate across 6 J-REIT disclosed transactions (all time) is 3.80% (as of November 1, 2026, appraisal NOI yield basis).
What is the data source?
Timely-disclosure PDFs published on each J-REIT official IR page. Every record links to its source.