RAPAPORT... Goldman Sachs is finalizing a deal to purchase a Tiffany & Co. Japanese property for $318 million, The Wall Street Journal reported.
An unnamed "person familiar with the situation" told the daily that the United States-based investment bank intends to lease the property back to the jewelry retailer upon completion of the sale.
Tiffany originally purchased the property, located in the exclusive Ginza district, for $140 million in 2003.
Goldman Sachs is no stranger to the Japanese real estate market. In 2006, the company raised more than $1 billion in shares sold for the Accordia Gold Co., which it created in order to manage a portfolio of golf courses in Japan.