Tokyo — China’s Anbang Insurance Group was in talks to buy as much as $2.3bn in Japanese residential property assets from Blackstone Group, two people involved in the discussions said, in what would be Japan’s biggest property deal since the global financial crisis. The US asset manager is discussing the sale of properties it bought in 2014, according to the sources, who asked not to be identified. The talks were at an advanced stage, one of the sources said. For Anbang, which is seeking to diversify its assets globally, the deal would be its first foray into Japanese property. The Chinese firm lost out in 2015 to Japanese developer Hulic in bidding for property asset manager Simplex Investment. A Blackstone official declined to comment. Anbang officials did not provide an immediate comment. The deal could fetch about ¥260bn ($2.34bn), the sources said, which would mark the biggest Japanese property transaction since a fund managed by Morgan Stanley bought 13 hotels from ANA Holding...
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