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Transactions - SEPTEMBER 20, 2019

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Tokyo firm to sell Midtown East office tower

by Andrea Zander

Unizo Holdings Co., a Tokyo-based real estate investment firm, has plans to sell its office building at 685 Third Ave. in Manhattan’s Midtown East submarket.

The 27-story asset has a total of 650,00 square feet of space.

Unizo acquired the asset in 2017 for $467.5 million.

In August, Unizo received a friendly buyout offer worth up to $1.3 billion from SoftBank Group, while it also received a hostile takeover bid from travel agency H.I.S. Co.

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