Blackstone Plans to Sell Tokyo Office Building for $1.9 Billion, Considers Tokenizing Equity
According to Bloomberg, people familiar with the matter said Blackstone plans to sell the office portion of the Garden Terrace Kioicho complex in Tokyo for about ¥300 billion (approximately $1.9 billion) and is currently in talks with potential buyers. Blackstone is also considering packaging part of the property’s trust beneficiary interests as digital securities and selling them in smaller portions to individual investors. Blackstone has not commented. Located in Tokyo’s Chiyoda Ward, the complex includes office buildings, a hotel, residences and commercial facilities. Blackstone acquired the complex in 2024 for about ¥400 billion, setting a record at the time for the largest real estate investment in Japan by a foreign investor. The proposed sale covers only part of the property, and neither the transaction nor the digital securities offering plan has been finalized.
According to Bloomberg, people familiar with the matter said Blackstone plans to sell the office portion of the Garden Terrace Kioicho complex in Tokyo for about ¥300 billion (approximately $1.9 billion) and is currently in talks with potential buyers. Blackstone is also considering packaging part of the property’s trust beneficiary interests as digital securities and selling them in smaller portions to individual investors. Blackstone has not commented. Located in Tokyo’s Chiyoda Ward, the complex includes office buildings, a hotel, residences and commercial facilities. Blackstone acquired the complex in 2024 for about ¥400 billion, setting a record at the time for the largest real estate investment in Japan by a foreign investor. The proposed sale covers only part of the property, and neither the transaction nor the digital securities offering plan has been finalized.