TOKYO–August 26, 2015–Pacifica Capital K.K., a Tokyo-based commercial real estate developer, is pleased to announce the origination of one of the largest and most unique hotel developments ever to be built in Japan.
The project, a luxury hotel to be located in Tokyo’s central business and entertainment district of Roppongi, consists of 4,000 m2 of land. Pacifica identified the site in early 2014 and spent more than a year formulating a development plan and negotiating with the land owners. Pacifica selected Great Eagle Holdings Limited, a Hong Kong listed developer, to own and operate the project and advised Great Eagle on the development plan and land acquisition.
“Stand-alone luxury hotels are a rarity in Tokyo, so we are pleased to have put together what will become a landmark project,” said Seth Sulkin, President & CEO of Pacifica. “This was an incredibly complex and difficult project to arrange. It is our first project after entering the hotel development business in 2014, and the start of many more to come.”
A purchase and sale agreement for the land was executed on July 31, 2015 by an affiliate of Great Eagle. Acquisition of the land will be completed by December 22, 2015. The project will become the first “Langham” branded hotel in Japan.
