Hong Kong’s Gaw Capital buys Tokyo shopping centre for more than US$1 billion
Gaw Capital, a Hong Kong private equity firm focused on real estate, completed the acquisition of a shopping centre in central Tokyo – its largest transaction to date in Japan – in a deal worth more than US$1 billion.
Gaw teamed up with Singapore-based Patience Capital Group to buy and manage Tokyu Plaza Ginza. Gaw owns 91 per cent of the project and its partner holds the remaining 9 per cent, Gaw said in a statement on Friday.
Completed in 2016, Tokyu Plaza Ginza is one of the largest retail facilities in the Ginza district, has a couple of subway stations nearby and has a gross floor area of 50,093 sq m.
Gaw said it is dedicated to seizing opportunities in Japan’s vibrant market. It said it has around 655 billion yen (US$4.7 billion) in assets under management across Japan.
“With favourable macroeconomic fundamentals supporting Japan’s retail sector, this is a highly opportune time to invest,” said Isabella Lo, managing director of investments and head of Japan at Gaw Capital.
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Lauren Gruber is an associate commerce editor at Hearst Magazines, where she writes for publications like Good Housekeeping, Cosmopolitan, Prevention, Country L
