Tosei Asset Advisors was the winning bidder in the bidding for stake sale of the 2.1 million-square-foot Otemachi Place, located in Otemachi, Japan’s leading business area, for an estimated sales price of $2.7 billion.
The seller was the Japanese Ministry of Finance.
The 32-story Otemachi Place is directly connected to Otemachi Station, which is served by five subway lines. Completed in 2018, it is a relatively new building with the highest level of environmental performance, seismic performance and BCP functions, according to the release.
Other bidders included U.S.- and Asia-based funds. It is considered one of the largest single real estate transactions in Japan’s history, exceeding a previous record set last year for the Dentsu Building, which was sold to Hulic for $2 billion.
