GSAM a final bidder in major Tokyo office building deal

|By:, SA News Editor

In what would be the biggest office property deal in Tokyo in six years, Secured Capital is trying to sell the 32-story Pacific Century Place Marunouchi for about ¥165B, or $1.6B, reports Reuters, and Goldman's (NYSE:GS) asset management unit is among the final bidders.

Investors are being lured into Tokyo as prices are hoped to continue to rebound amid aggressive government monetary and fiscal policies. The building was built in 2001 and sold in 2006 for ¥200B.