UPDATE – Deal Canceled – on Meguro Gajoen

UPDATE – July 11, 2014

GIC Private Limited has backed out of buying the Tokyo property due to a dispute between two other groups involving land. Lone Star Funds was close to selling the property to the Singapore sovereign wealth fund.

Singapore sovereign wealth fund, GIC Private Limited, beat out other institutional investors to acquire Meguro Gajoen from Dallas-based Lone Star Funds for around 134 billion JPY (US$ 1.3 billion). Meguro Gajoen is based in central Tokyo and is comprised of an office tower, hotel and banquet hall. The key tenant is Amazon Japan, the Japanese unit of Amazon.com Inc.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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