TOKYO -- Seibu Holdings will sell an iconic Tokyo property for around 400 billion yen ($2.6 billion) to Blackstone, the company announced on Thursday, in a deal that highlights the accelerating pace of business restructuring in corporate Japan amid foreign investors' rising interest in Japanese real estate.
The sale of Tokyo Garden Terrace Kioicho, a mixed-use urban complex in the heart of Tokyo, will allow Seibu, a railway and real estate conglomerate, to book a gain of 260.4 billion yen ($1.7 billion).
.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
