TOKYO -- A group of leading Osaka-area companies, including Kansai Electric Power, will acquire a major Tokyo office building in Japan's second-biggest deal for a single structure since the 2008 global financial crisis.
The consortium will pay more than 150 billion yen ($1.41 billion) for the long, squat Shiba Park Building in the capital's Minato Ward, with an eye toward eventual redevelopment. The deal is second only to the roughly 170 billion-yen purchase of Tokyo's Pacific Century Place Marunouchi skyscraper by Singapore's sovereign wealth fund in 2014.
