GIC buys 43% stake in Tokyo office building for 62.5 bil yen

By
/ EdgeProp
|
December 20, 2017 7:41 PM SGT
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.
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(Credit: Daiwa Office Investment Corporation)