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Market Chatter: GIC Grants Kenedix First Rights to Buy Tokyo Office Tower For 230 Billion Yen

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Singapore's sovereign wealth fund, GIC, has granted the now-delisted Kenedix exclusive negotiating rights for a central Tokyo office property, Bloomberg News reported on Tuesday, citing people familiar with the matter.

The Japanese developer reportedly submitted a bid of around 230 billion yen for the property owned by GIC in Pacific Century Place Marunouchi.

Ongoing talks may still fail amid rising rates pushing sellers to offload assets, the report said.

GID and Kennedix did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Market Chatter: GIC Grants Kenedix First Rights to Buy Tokyo Office Tower For 230 Billion Yen | FINWIRES