Secured Capital says to buy Pacific Century Place

TOKYO (Reuters) - Property fund manager Secured Capital Japan Co 2392.T said it planned to buy the Pacific Century Place building in central Tokyo in a deal sources said could be worth about $1.6 billion.

Secured Capital said in a statement it would buy the 32-story office building located next to Tokyo railway station, without naming the seller or the acquisition price.

Sources told Reuters last week Secured Capital was a strong contender to buy the building for about 140 billion yen ($1.6 billion) from Shinsei Bank Ltd (8303.T).

Neither Secured Capital nor Shinsei were available to comment.

Shinsei took control of the property earlier this year from Davinci Holdings 4134.OJ after the struggling property investment firm missed paying its loans on time.

Shinsei was keen to finalize the sale this month to allow it to recover its loans before the end of the October-December quarter, the sources had said.

U.S. private equity firm Carlyle Group, railway operator East Japan Railway Co (9020.T) and property developers Mitsubishi Estate Co (8802.T) and Mitsui Fudosan Co (8801.T) also placed bids for Pacific Century Place, the sources said.

(Reporting by Junko Fujita and Nathan Layne; Editing by Dan Lalor)

($1 = 88.58 yen)