GIC to acquire 43% stake in Shinjuku property for 62.5b yen
Sovereign wealth fund will buy holding from Daiwa Office Investment Corporation; the two parties will manage Grade A office building jointly
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Singapore
SINGAPORE'S sovereign wealth fund GIC will acquire a 43 per cent stake in Shinjuku MAYNDS Tower, a large-scale Grade A office property in Tokyo, from Daiwa Office Investment Corporation for 62.5 billion yen (S$747.7 million).
Daiwa Office Investment Corporation will retain the same stake as that of GIC, with the remaining stake held by a domestic company, according to a press statement.
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