Blackstone (BX) announced that Real Estate funds managed by Blackstone have entered into definitive agreements to acquire Tokyo Garden Terrace Kioicho, a 2.4M square feet of mixed-use asset, from affiliates of Seibu Holdings. At $2.6B, this marks the largest real estate investment by a foreign investor in Japan and the firm’s largest investment to date across businesses in the market. Located in central Tokyo, Tokyo Garden Terrace Kioicho comprises two high-rise towers consisting of a Grade A+ office, which is currently 100% occupied; 135 residential units; a 250-key luxury hotel; conference and wedding venues; and over 30 cafes and restaurants, and goods and services stores.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BX:
- Blackstone downgraded to Equal Weight from Overweight at Wells Fargo
- Albertsons terminates Kroger deal, Macy’s reports Q3 beat: Morning Buzz
- Blackstone ‘balks’ at price tag for Bausch + Lomb, FT says
- Blackstone likely to drop out of consortium bidding for Bausch + Lomb, FT says
- Blackstone price target raised to $199 from $174 at Barclays