(Updates with Brookfield's response in the third paragraph.)

Brookfield Asset Management (BAM) is close to purchasing a property in Tokyo for roughly 300 billion Japanese yen ($1.93 billion), Bloomberg News reported Tuesday, citing people familiar with the matter.

The US firm is in late-stage discussions to acquire Dentsu Group's headquarters building from a special purpose company run by Hulic and others, the unnamed sources told the news outlet, adding that the deal is expected to close by the end of March.

Brookfield declined to comment in response to MT Newswires' request for comment.

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