Deals
KKR, Hulic Bid $2 Billion for GIC’s Central Tokyo Skyscraper
- Singapore wealth fund is trying to sell Shiodome City Center
- Tokyo office market has withstood pandemic better than others
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A group led by KKR & Co. and one of Japan’s largest real estate companies made a bid to acquire a Tokyo skyscraper owned by Singapore sovereign wealth fund GIC Pte, according to people familiar with the matter.
KJR Management, a Japanese real estate unit of KKR, and Hulic Co. put in the offer for Shiodome City Center, a 43-story office tower in one of Tokyo’s central business districts, the people said, asking not to be identified because the information is private. The bid was priced around ¥300 billion ($2 billion), they added, making any potential sale one of the most expensive office building transactions ever in Japan.