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Blackstone's Real Estate Funds to Acquire Tokyo Garden Terrace Kioicho for $2.6 Billion
Blackstone to Buy Tokyo Office Complex for $2.6 Billion
Express News | Blackstone will Buy the Tokyo commercial complex for 2.6 billion USD, marking the largest real estate acquisition by foreign capital in Japan's history.
Blackstone (BX.US) acquired the comprehensive project "Tokyo Garden Terrace Kioicho" from Seibu for a price of 2.6 billion US dollars.
Alternative Asset Management company Blackstone (BX.US) announced that its real estate Fund has reached a final agreement to acquire the multifunctional complex asset project "Tokyo Garden Terrace Kioicho" from a subsidiary of Seibu Holdings. The project covers an area of 2.4 million square feet, with a transaction value of 2.6 billion USD, making it the largest investment by foreign enterprises in Japan's real estate sector. It is also the largest investment Blackstone's various business sectors have made in the Japanese market to date. Located in downtown Tokyo, the Tokyo Garden Terrace Kioicho asset includes two high-rise towers, one of which is a fully leased super Grade A office building and 135 high-rise apartments.
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