Gic buys office space inside a building in tokyo for an “undisclosed amount”

[h=1]GIC BUYS OFFICE SPACE INSIDE A BUILDING IN TOKYO FOR AN “UNDISCLOSED AMOUNT”[/h]
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21 Oct 2014 - 1:37pm





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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.




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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?

Of course it must be undisclosed, otherwise competitors may dig out how GIC got such a great deal! That would be terrible!

the four seasons hotel is in part of the building. the building is designed to be earthquake-resilient. not sure up to which number on the richter scale. next to tokyo station with underground access.

map of buildings around tokyo station and the pinpoint location of pcpm.

it's an ok investment considering the yen is weaker now.

GIC owns,bought any foreign farmland?

maybe PAP hopes to transform Japan from a dieing economy to a special style of Singapura rent seeking and GDP boosting monopolistic economy?

prepare for Cheaper better faster tenents next Jippun?

There does not seem to be any coherent strategy in its investments.
From start-ups to transport-related to banks etc.

so they not disclosing how much went into whose pocket?

These GIC guys are clueless. They just invested in a coal mine in Australia.
Days after, China announces tariffs on coal imports.
Huat ah!

Not their own money mah..............................

Confuseous said:

These GIC guys are clueless. They just invested in a coal mine in Australia.
Days after, China announces tariffs on coal imports.
Huat ah!

Click to expand...

The next earthquake may cause heavy losses that may not be recovered.

GIC and Temasek is growing in power....

frenchbriefs said:

[video=youtube;7zuDZrySShA]http://www.youtube.com/watch?v=7zuDZrySShA[/video]

At the beginning of the 21st century, the Umbrella Corporation had become the largest commercial entity in the United States.

Nine out of every ten homes contain its products.

Its political and financial influence is felt everywhere.
In public, it is the world's leading supplier of computer technology, medical products, and healthcare.

Unknown, even to its own employees, its massive profits are generated by military technology, genetic experimentation and viral weaponry.

Click to expand...

This business is right up GLP's area of expertise. Maybe GIC got some good advice from them and went ahead with the purchase.