Hong Kong's Gaw Capital buys iconic Tokyo mall for one billion-dollar
TOKYO - Real estate private equity firm Gaw Capital and Singapore-based investor Patience Capital Group have completed the acquisition of Tokyu Plaza Ginza, a prime mall in central Tokyo, in a deal worth more than $1 billion, Gaw's Japan head said on Friday.
The Hong Kong-based investor said it had formed a joint venture for the acquisition and management of the property in which it holds 91%, with the remaining 9% held by Patience Capital Group.Canadian firm Brookfield Asset Management last month closed two real estate investments in Japan for a total of $1.6 billion. "With favourable macroeconomic fundamentals supporting Japan's real estate sector, this is a highly opportune time to invest," Gaw's Head of Japan Isabella Lo said in a statement. The Tokyu Plaza transaction is Gaw's largest in Japan, where it has been operating since 2014. The firm has roughly 655 billion yen in assets under management in Japan, which represents 40% growth over the past 12 months, Lo said.In a first, Punjab Assembly hosts CPA conference
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