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22-10-2014, 05:40 AM
An honorable member of the Coffee Shop Has Just Posted the Following:
GIC BUYS OFFICE SPACE INSIDE A BUILDING IN TOKYO FOR AN “UNDISCLOSED AMOUNT”
.node-article .field-name-link-line-above-tags{float: right;}.node-article .field-name-ad-box-in-article {float: left;margin: 15px 15px 10px 0;}.node-article .field-tags{clear: both;} Post date:
21 Oct 2014 - 1:37pm
http://therealsingapore.com/sites/default/files/styles/large/public/field/image/gic1e_0_1.jpg?itok=LIzhiEhv (http://therealsingapore.com/sites/default/files/field/image/gic1e_0_1.jpg)
GIC, Singapore’s sovereign wealth fund which manages Singaporeans’ CPF Savings, has just acquired part of an office building in Tokyo, Japan for an undisclosed amount.
The building, called the Pacific Century Place Marunouchi, was purchased through a GIC affiliate and the purchase covers only levels 8 to 31 of the 32 storey high building.
These floors are office spaces, and does not include the parts of the building which are set aside for the Four Seasons Hotel operating there.
The space is prime office space in the heart of Tokyo right next to the JR Tokyo train station with about 39,000sqm of rentable space.
GIC Explained that they believe Pacific Century Place Marunouchi will give a combination of stable income and capital appreciation over the long term.
“The attractions of the property are its prime location, superior building quality, and quality tenants. This investment demonstrates our confidence in Japan and specifically, the Tokyo office market over the long run,” they explained.
Earlier estimates from Reuters in August this year put the value of the entire Pacific Century Place Marunouchi at 170 billion Yen (S$2 Billion).
GIC has been slowly building up its property portfolio with the acquisition of several key properties around the world.
Earlier this month, the sovereign fund acquired a 50% stake in an Italian shopping centre. In January, it purchased the headquarters of Time Warner in New York City’s Columbus Circle together with the Abu Dhabi Investment Authority. Late last year, they also took up stakes in an office complex in London as well as an office tower in the centre of Jakarta’s business district.
What is curious is that they have disclosed the purchase price in previous transactions but did not do so for this purchase of the Tokyo Property.
What do you think?
Click here to view the whole thread at www.sammyboy.com (http://singsupplies.com/showthread.php?192444-Gic-buys-office-space-inside-a-building-in-tokyo-for-an-“undisclosed-amount”&goto=newpost).
GIC BUYS OFFICE SPACE INSIDE A BUILDING IN TOKYO FOR AN “UNDISCLOSED AMOUNT”
.node-article .field-name-link-line-above-tags{float: right;}.node-article .field-name-ad-box-in-article {float: left;margin: 15px 15px 10px 0;}.node-article .field-tags{clear: both;} Post date:
21 Oct 2014 - 1:37pm
http://therealsingapore.com/sites/default/files/styles/large/public/field/image/gic1e_0_1.jpg?itok=LIzhiEhv (http://therealsingapore.com/sites/default/files/field/image/gic1e_0_1.jpg)
GIC, Singapore’s sovereign wealth fund which manages Singaporeans’ CPF Savings, has just acquired part of an office building in Tokyo, Japan for an undisclosed amount.
The building, called the Pacific Century Place Marunouchi, was purchased through a GIC affiliate and the purchase covers only levels 8 to 31 of the 32 storey high building.
These floors are office spaces, and does not include the parts of the building which are set aside for the Four Seasons Hotel operating there.
The space is prime office space in the heart of Tokyo right next to the JR Tokyo train station with about 39,000sqm of rentable space.
GIC Explained that they believe Pacific Century Place Marunouchi will give a combination of stable income and capital appreciation over the long term.
“The attractions of the property are its prime location, superior building quality, and quality tenants. This investment demonstrates our confidence in Japan and specifically, the Tokyo office market over the long run,” they explained.
Earlier estimates from Reuters in August this year put the value of the entire Pacific Century Place Marunouchi at 170 billion Yen (S$2 Billion).
GIC has been slowly building up its property portfolio with the acquisition of several key properties around the world.
Earlier this month, the sovereign fund acquired a 50% stake in an Italian shopping centre. In January, it purchased the headquarters of Time Warner in New York City’s Columbus Circle together with the Abu Dhabi Investment Authority. Late last year, they also took up stakes in an office complex in London as well as an office tower in the centre of Jakarta’s business district.
What is curious is that they have disclosed the purchase price in previous transactions but did not do so for this purchase of the Tokyo Property.
What do you think?
Click here to view the whole thread at www.sammyboy.com (http://singsupplies.com/showthread.php?192444-Gic-buys-office-space-inside-a-building-in-tokyo-for-an-“undisclosed-amount”&goto=newpost).