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

By Angela Teo / 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.
Low-angle shot of Shinjuku MAYNDS Tower - EDGEPROP SINGAPORE
(Credit: Daiwa Office Investment Corporation)