Manager buys Tokyo office tower
Fosun International, a Shanghai-based investment firm, has acquired a Tokyo office building through its Tokyo-based subsidiary Idera Capital.
The property, Shinagawa Seaside Park Tower, was sold by Japan Tobacco Inc. Terms of the transaction were not disclosed. The 23-story building totals 589,867 square feet and was completed in 2003.
Fosun has been an active investor in Japan. In August, the firm acquired the Citigroup Center Building in Seafort Square, a 311,663-square-foot office tower occupied by Citibank. The asset was acquired from GK SFS for ¥12.5 billion ($121.5 million), according to Real Capital Analytics. CBRE Global Investors acted for Fosun in the acquisition of the 25-story tower. The property is located in the Tennozu district of central Tokyo.
And in May, Fosun acquire