09/01/2012

Downtown Properties Has Successfully Led the Acquisition of a Prestigious London Property for a South Korean Consortium


London(September, 2012) – Downtown Properties, the Los-Angeles based associate of real estate fund manager Gaw Capital Partners and a South Korean consortium have successfully acquired Vintners’ Place, a 277,270 sq ft Class A office building in the City of London. The acquisition of Vintners’ Place is the third property transactions completed by Downtown Properties and the South Korean consortium in recent years and their first one in the UK market.

The property, located at 68 Upper Thames Street, is comprised of Vintners’ Place and Thames House. Featuring imposing architecture including a central atrium with a glass suspension roof, the property boosts an impressive tenant roaster which includes Jefferies International, Thomson Reuters and Sumitomo among others.

Downtown Propertiesacted as both co-investor and advisor for the acquisition.The South Korean consortium includes KFCCC (Korea Federation of Community Credit Cooperatives) and KTCU (The Korean Teachers’ Credit Union) with Hyundai Asset Management acting as asset manager.

The two other acquisitions done by Downtown Properties and the South Korean consortium are 333 Market Street at San Francisco in 2010 and First National Plaza at Chicago in 2011.

Managing Principal for Gaw Capital Partners and Downtown Properties Goodwin Gaw said“With an intimate understanding of both east and west, we have a proven global track record in identifying real estate with high potential and maximizing returns from it while collaborating with investors and partners all of the world.”

"We have always viewed London, NY, HK as the three global gateway cities where international capital flows, where assets trade at a liquidity premium. We are very happy to enter the London market for our investors and ourselves with such a high quality asset."