Singapore-based global investment firm GIC announced on Dec 19 that is acquiring a stake of about 43% in a Tokyo office building for 62.5 billion yen ($745 million). The seller is Tokyo-listed REIT Daiwa Office Investment Corporation.

The property is the 34-storey Shinjuku MAYNDS Tower, a Grade-A office building in Shinjuku, Tokyo. According to GIC, the property is easily accessible from JR Shinjuku Station.

Following the acquisition, Daiwa Office Investment Corporation and GIC will each own a 43% stake in the property, while the remaining stake will be held by an unnamed Japanese company.