GIC, Singapore’s sovereign wealth fund, through its affiliate, has acquired the office component of Pacific Century Place Marunouchi in Tokyo from Secured Capital.
Completed in 2001, Pacific Century Place Marunouchi is a landmark 32-storey mixed-use development with a gross floor area of 81,692 square meters. The office component is made up of levels 8-31 and comprises 38,840 sqm of net rentable area.
Aside from the office, Pacific Century Place Marunouchi comprises the Four Seasons Hotel Tokyo, as well as a wide selection of retail and F&B outlets. It is located in Marunouchi, the prime business district in Tokyo, with direct sheltered access to the adjacent Tokyo Station. Due to its excellent location, the office has attracted a diverse mix of high quality tenants, including top global and Japanese corporations.
Lee Kok Sun, Co-Head of Asia, GIC Real Estate said: “As a long-term value investor, GIC believes Pacific Century Place Marunouchi gives us a combination of stable income and the potential for 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.”