Real estate funds managed by Blackstone have entered into definitive agreements to acquire Tokyo Garden Terrace Kioicho, a 2.4 million-square-foot mixed-use asset, from affiliates of Seibu Holdings for $2.6 billion.
This is 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 class A+ office, which is currently 100 percent occupied; 135 high-end residential units; a 250-key luxury hotel; conference and wedding venues; and over 30 cafes and restaurants, and goods and services stores.
“This is a landmark opportunity to acquire a trophy Tokyo asset from one of Japan’s most respected corporations, Seibu Holdings. Japan is one of our most important markets globally, where we have acquired $16 billion of real estate assets since 2013. This transaction represents our convictio
