Secured Capital Investment Management (SCIM), the Japan-based real estate investment arm of PAG, a leading Asia-focused alternative investment manager, is selling the office component of Tokyo’s Pacific Century Place Marunouchi (PCP) to Singapore’s sovereign wealth fund, GIC.

 

Pacific Century Place is a l 32-story mixed-use development completed in 2001 with a gross floor area of 81,692 square metres. The office component is made up of 24 levels (8F-31F) and comprises 38,840 sqm of net rentable area.

 

J-P Toppino, managing partner of PAG Real Estate said, “PCP is a landmark asset and we have been uniquely positioned in this market to manage and realize its value.  The investment is representative of our emphasis on quality assets in the very attractive Tokyo real estate market where we can take a longer term view to unlocking value.”

 

PCP was originally acquired by Secured Capital in 2009 and has been managed by SCIM’s asset management team since that time.