Daiwa Securities Plans $190 Million Sale of Tokyo Office-Backed Digital Securities

Daiwa Securities is preparing a roughly $190 million digital securities offering for individual investors, backed by office holdings at Tokyo Garden Terrace Kioicho valued at about $570 million. Mitsubishi UFJ Trust Bank will hold the office assets in trust. After borrowings are deducted, about $190 million of the assets is slated for the securities issuance. Separately, a fund under Daiwa Securities Group plans to acquire most of the complex’s office and commercial assets from Blackstone for more than $1.9 billion. The planned purchase excludes the residential portion.

Source: TokenPost