Blackstone Group is planning to sell the office portion of the Garden Terrace Kioicho complex in Tokyo for about ¥300 billion, or roughly $1.9 billion, according to Bloomberg, which cited people familiar with the matter. The firm is said to be in talks with potential buyers.
The report also said Blackstone is considering packaging part of the property’s trust beneficiary rights into digital securities and selling them in smaller units to retail investors. Blackstone declined to comment, according to the report.
Garden Terrace Kioicho, located in Tokyo’s Chiyoda ward, includes office space, a hotel, residences, and commercial facilities. Blackstone acquired the complex in 2024 for about ¥400 billion, a deal that set a record at the time for the largest real estate investment in Japan by a foreign investor. The planned sale would cover only part of the property, and neither the transaction nor any digital securities issuance has been finalized.
Blackstone Group is planning to sell the office portion of Tokyo’s Garden Terrace Kioicho complex for about ¥300 billion, or roughly $1.9 billion, Bloomberg reported, citing people familiar with the matter. The firm is currently in talks with potential buyers.
According to the report, Blackstone is also considering packaging part of the property’s trust beneficiary rights into digital securities and selling them in smaller units to individual investors. Blackstone has not commented on the matter.
Garden Terrace Kioicho is located in Tokyo’s Chiyoda ward and includes office space, a hotel, residences, and commercial facilities. Blackstone acquired the complex in 2024 for about ¥400 billion, setting what was then the largest real estate investment in Japan by a foreign investor.
The planned disposal would involve only part of the property. The transaction and any digital securities issuance plan have not been finalized.
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