Report - Goldman Sachs competes for big office property deal

Tokyo

A Goldman Sachs unit is a final bidder for a Tokyo office tower in a deal that could fetch about £1.19bn, said people familiar with the deal, which could be the biggest office property deal in six years.

Reuters reports that Secured Capital, part of Asian private equity firm PAG, is trying to sell the 32-storey Pacific Century Place Marunouchi, in a prime spot near the Tokyo railway station. It bought the property for about £842.5m.

Investors are aggressively seeking properties as Tokyo prices are expected to continue a rebound they have seen under Prime Minister Shinzo Abe's growth policies of massive monetary and fiscal stimulus.

Goldman Sachs Asset Management is competing against at least two other investors with similar bids, said the people with knowledge of the deal. 

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Goldman Sachs a final bidder for $1.6 billion Tokyo building -sources

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