Blackstone to Buy Tokyo Complex From Seibu for $2.6 Billion
- Mixed-use Tokyo Garden Terrace Kioicho is in city center
- Largest real estate acquisition by a foreign fund in Japan
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Blackstone Inc. is buying a mixed-use complex in Tokyo from Seibu Holdings Inc. in the largest-ever real estate acquisition by foreign fund in Japan.
The world’s largest alternative asset manager will purchase Tokyo Garden Terrace Kioicho for about ¥400 billion ($2.6 billion), according to a statement Thursday. Bloomberg earlier reported that Blackstone was the frontrunner to buy the complex, which includes a 36-story office tower, rental apartments, a hotel and various retail and dining offerings.