Blackstone (BX) announced that Real Estate funds managed by Blackstone have entered into definitive agreements to acquire Tokyo Garden Terrace Kioicho, a 2.4M square feet of mixed-use asset, from affiliates of Seibu Holdings. At $2.6B, this marks 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 Grade A+ office, which is currently 100% occupied; 135 residential units; a 250-key luxury hotel; conference and wedding venues; and over 30 cafes and restaurants, and goods and services stores.
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