# LaSalle buys office building in Shinjuku; SC Capital acquires 206-room hotel - **Source:** EdgeProp Singapore - **Published:** 2026-07-09T05:39:31.000Z - **Author:** Edgeprop Singapore - **Original:** https://www.edgeprop.sg/property-news/lasalle-buys-office-building-shinjuku-sc-capital-acquires-206-room-hotel - **Topics:** Commercial & Industrial, Transactions & Deals, Investment & Capital Markets ## Featured rationale The acquisitions signal institutional confidence in supply-constrained Tokyo offices and hospitality, potentially supporting rental reversion and value creation through hotel repositioning. ## AI summary LaSalle acquired fully occupied Zenith Minami Shinjuku, while SC Capital purchased a 206-room Shinjuku hotel for comprehensive upgrading; both prices were undisclosed. ## Original article Real estate investment managers, LaSalle Investment Management from the US and Singapore's SC Capital Partners Group, have each deepened their presence in Japan with asset acquisitions in the office and hospitality sectors, respectively. In separate announcements in early July, the firms said the acquisitions in Shinjuku, central Tokyo, were made on behalf of their investment funds. Both firms did not disclose the financial terms of the deals including the transaction prices. Office investment amid supply scarcity LaSalle purchased a 14-storey office building — named Zenith Minami Shinjuku — with about 6,056 sq m (65,187 sq ft) of net rentable area, in an off-market transaction via its Asia Pacific (Apac) opportunistic real estate fund, LaSalle Asia Opportunity VI, from Hines. Read also: Hotels will need to tailor offerings to Gen Z travellers' varied tastes: Marriott Completed in November 2023, the property is fully occupied by a diverse mix of tenants across healthcare, technology, logistics, F&B, renewable energy, and professional services. It is situated in Shinjuku — "one of Tokyo's most supply-constrained and high-growth office submarkets", said the Chicago-based firm, a subsidiary of JLL, in a July 6 release. The premium office asset has efficient 373 sq m floor plates, full-height windows on both the north and south facades, and panoramic views over the landmark Shinjuku Gyoen National Garden. In terms of connectivity, it is a three-minute walk from JR Yoyogi Station and within walking distance of Shinjuku Station. It was also awarded two certificates — Rank A for New Construction and Rank S for Real Estate — under Japan's premier green building certification system, CASBEE. These high-quality specifications and the prime location position Zenith Minami Shinjuku well to benefit from the continued growth of Tokyo’s office market, in LaSalle’s view. Steve Hyung Kim, head and chief investment officer of Apac at LaSalle, said the acquisition exemplifies the firm’s opportunistic strategy of “creatively sourcing deals where in-place rents sit considerably below market”. Read also: Aspial sells skyscraper site at discount; Huationg buys land for dormitory; and other listco property deals "The investment offers a clear path to mark-to-market rental reversion while remaining favourably positioned in a reflationary environment," he added. The seller, Hines, said on July 8 that the property had only been about 20% leased when it was initially acquired in late 2023. Hines added that it achieved full occupancy for the building, before the latest sale to LaSalle, through a focused leasing strategy and active asset management. Planned 'comprehensive' upgrade of hotel Meanwhile, SC Capital — an Apac-focused, Singapore-headquartered fund manager that is 40%-owned by CapitaLand Investment — has scooped up a 206-room hospitality asset on behalf of its Japan Hospitality Fund. It plans to undertake a "comprehensive" asset enhancement programme for the ageing hotel, built nearly two decades ago, according to a July 8 release. The aim is to better align the property with Shinjuku’s growing inbound traveller base, improve the guest experience, and strengthen its long-term competitive positioning. The hotel is the former Citadines Central Shinjuku, which CapitaLand Ascott Trust (Clas) had sold in late 2025 to Mizuho Leasing for JPY 25 billion ($222.7 million). Read also: Will Japan's tourist visa fees, interest rate policy impact its booming property market? Built in 2018, the property had been acquired by Clas in 2014 and was never refurbished. Shinjuku, as one of Tokyo’s most dynamic commercial, retail and entertainment districts, attracts both domestic and international leisure travellers as well as strong corporate demand. Moreover, the asset’s scale sets it apart from other properties in the surrounding area, which are mostly smaller and limited-service hotels, according to SC Capital. The firm added that Tokyo's hospitality market continues to benefit from strong inbound tourism growth and resilient domestic travel demand. New hotel supply is also constrained, given rising construction costs, labour shortages and higher financing costs, which creates favourable long-term fundamentals. "Opportunities of this nature require deep local market knowledge, hospitality expertise and the ability to execute complex repositioning strategies," said Suchad Chiaranussati, chairman and founder of SC Capital. The firm has invested over US$1.3 billion in Japan’s hospitality sector since 2010 through its private funds strategies, spanning 60 hotels and about 13,000 rooms. SC Capital is also the majority owner of Japan Hotel Reit's asset manager. CapitaLand Investment completed the 40% initial stake purchase in SC Capital last March, and is expected to acquire the remaining stakes in the fund manager in phases to attain full ownership by 2030. ## Chinese translation > Translation model: grok ### LaSalle购入新宿办公楼；SC Capital收购206间客房酒店 投资管理人——美国的LaSalle与新加坡的SC Capital——分别在东京拿下办公与酒店资产 房地产投资管理人——来自美国的LaSalle Investment Management与新加坡的SC Capital Partners Group——分别通过在办公与酒店板块的资产收购，加深了在日本的布局。 两家公司在7月初的单独公告中表示，于东京中心新宿的收购分别代表其投资基金完成。两家公司均未披露交易财务条款，包括成交价。 供应稀缺下的办公投资 LaSalle通过其亚太机会型房地产基金LaSalle Asia Opportunity VI，以场外交易方式从Hines购入一栋14层办公楼——名为Zenith Minami Shinjuku——可出租净面积约6,056平方米（65,187平方英尺）。 另读：万豪：酒店需针对Z世代旅客多元口味定制产品 该物业于2023年11月竣工，由医疗保健、科技、物流、餐饮、可再生能源与专业服务等多元租户全数承租。 芝加哥总部、仲量联行（JLL）子公司在7月6日新闻稿中称，其位于新宿——“东京供应最受限、增长最快的办公子市场之一”。 该优质办公资产拥有高效的373平方米楼板、南北立面全高窗，以及俯瞰地标新宿御苑的全景视野。交通方面，步行三分钟可达JR代代木站，步行亦可至新宿站。 其亦在日本顶级绿色建筑认证体系CASBEE下获得两项证书——新建A级与房地产S级。 在LaSalle看来，这些高规格与核心地段，使Zenith Minami Shinjuku有望受益于东京办公市场的持续增长。 LaSalle亚太区主管兼首席投资官Steve Hyung Kim表示，该收购体现了公司“创造性寻找在位租金明显低于市价的交易”的机会型策略。 另读：Aspial折价出售摩天楼地段；Huationg购地建宿舍；及其他上市企业物业交易 他补充：“该投资为按市价租金回升提供清晰路径，并在再通胀环境中保持有利定位。” 卖方Hines于7月8日表示，该物业在2023年底初次购入时仅约20%出租。Hines补充，通过聚焦租赁策略与积极资产管理，在最新售予LaSalle前已实现满租。 计划对酒店进行“全面”升级 与此同时，SC Capital——一家以亚太为重心、总部在新加坡、凯德投资（CapitaLand Investment）持股40%的基金管理人——已代表其日本酒店基金收购一处206间客房的酒店资产。 据7月8日新闻稿，其计划对这座近二十年前建成的老化酒店实施“全面”资产提升计划。 目标是更好地对接新宿不断增长的入境旅客基础、改善宾客体验，并强化其长期竞争定位。 该酒店即前Citadines Central Shinjuku，凯德Ascott信托（Clas）曾于2025年底以250亿日元（约2.227亿新元）售予瑞穗租赁（Mizuho Leasing）。 另读：日本旅游签证费、利率政策会否影响其蓬勃的房地产市场？ 该物业建于2018年，Clas于2014年购入后从未翻新。（注：原文如此。） 作为东京最具活力的商业、零售与娱乐区之一，新宿吸引国内外休闲旅客以及强劲的商务需求。 此外，SC Capital称，该资产的规模使其有别于周边多为较小、有限服务型酒店的其他物业。 该公司补充，东京酒店市场持续受惠于强劲的入境旅游增长与有韧性的国内出行需求。 新酒店供应亦受制约，因建筑成本上升、劳动力短缺与融资成本提高，形成有利的长期基本面。 SC Capital董事长兼创始人Suchad Chiaranussati表示：“此类机会需要深厚的本地市场知识、酒店专长，以及执行复杂重新定位策略的能力。” 自2010年以来，该公司通过私募基金策略在日本酒店板块投资逾13亿美元，涵盖60家酒店、约1.3万间客房。SC Capital亦是日本酒店房地产投资信托资产管理公司的大股东。 凯德投资于去年3月完成对SC Capital 40%初始股权收购，并预计分阶段收购剩余股权，以在2030年前实现全资控股。