Singapore’s GIC to buy stake in Tokyo office tower for $558m

Street view of the Shinjuku district of Tokyo, Japan.

Singapore’s sovereign wealth fund GIC on Tuesday announced it will acquire a 43 per cent stake in Shinjuku MAYNDS Tower, a 34-storey office tower in Tokyo, from Daiwa Office Investment Corporation for JPY62.5 billion (~$558 million). The deal marks one of the largest property transactions in Japan this year.

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