BGO sells Pasona Square office building to Goldcrest in Tokyo

9 articles · Updated · Bloomberg · Apr 27

Goldcrest, a Tokyo-based condominium developer, acquires the 18-story Pasona Square in Aoyama for $628 million from Canada’s BGO.
Goldcrest plans to convert the former Avex Inc. headquarters into luxury apartments, targeting demand from wealthy home buyers in the area.
BGO originally purchased the property from Avex Inc. in 2021 for about ¥70 billion, making a significant profit on the sale.

How did a Canadian firm make a ¥30 billion profit on a Tokyo building in just a few years?

How will Japan's new 2026 energy laws impact this massive office-to-apartment conversion?

Can Goldcrest's ¥100 billion bet on luxury living survive Japan's rising interest rates?

What makes Tokyo's Aoyama neighborhood the center of a billion-dollar real estate war?

Why convert prime offices when Tokyo's office vacancy rate is already below 1%?

Is Tokyo's luxury property boom a stable market or a risky bubble fueled by the weak yen?