GIC Mulls Several Hundred Billion Yen Tokyo Property Sale

GIC Pte., Singapore’s sovereign wealth fund, is considering selling its stake in an office building in central Tokyo for at least several hundred billion yen, people familiar with the matter said.

The fund will look for buyers for its holding of the office space section of the Pacific Century Place Marunouchi from the 8th to 31st floors, said the people, who asked not to be identified discussing confidential information. It acquired the property from PAG-backed Secured Capital Investment Management for about ¥180 billion ($1.1 billion) in October 2014.