11/29/2018

Gaw Capital Partners and Consortium Partners Acquire Ocean Towers in Shanghai

November 29, 2018, Shanghai – Real estate private equity firm Gaw Capital Partners announced that the firm, through a fund under its management together with consortium partners including QuadReal Property Group, have acquired Ocean Towers, a 25-storey Grade A office building strategically located in People’s Square, Shanghai, the heart of the city and its political and cultural center.

With 50,219 sqm (540,552 sq. ft.) of above-ground titled GFA and 185 car parking spaces, Ocean Towers enjoys strong exposure to customer traffic and excellent accessibility. Located at 550 East Yan’An Road, Ocean Towers is in the heart of Huangpu District. It is next to Nanjing East Road, Shanghai’s most popular pedestrian street and traditional commercial center, where tenants can enjoy easy access to the existing comprehensive transportation system and road infrastructure. Its prime position also offers excellent access to Shanghai’s busiest commercial and entertainment districts. It is within a five-minute drive to Nanjing West Road CBD, Xintiandi, Lujiazui and the Bund as well as being in close proximity to well-established commercial amenities such as Raffles City, Shimao Bailian, JW Marriot Tomorrow Square, Westin and Nanjing East Road Pedestrian Street. 

The property is well-served by public transport as both People’s Square Station (Metro Lines 1, 2 and 8) and Dashijie Station (Metro Line 8 and the future Metro Line 14 to be completed by 2020) can be reached by foot in five to eight minutes. The property also enjoys spectacular, unobstructed views of the Bund and Little Lujiazui from its top floors which allows the possibility of better rental returns.

By leveraging its prime location and its views of the Huangpu River, Lujiazui and other major CBDs in Puxi, Gaw Capital believes there is great potential for Ocean Towers to further enhance its occupancy rate and advertisement income.

Humbert Pang, Managing Principal and Head of China for Gaw Capital Partners said: “Gaw Capital and our partners are confident about Shanghai’s property market, which has continued on an upward trajectory despite the uncertain external economic environment. Shanghai’s economic development has surpassed all other cities in China with 6.9% growth in GDP. Shanghai remains China’s top gateway city for both multinational corporations and domestic companies, with Shanghai’s CBD Grade A offices continuing to demonstrate a strong leasing momentum. Ocean Towers is ideal for tenants looking for high quality Grade A office space in the Huangpu District in Shanghai.”

He added, “We hope to leverage our experience in redesign and re-positioning to enhance asset value and attract new tenants. In addition, we will reposition and upgrade the tenant mix to add significant, strategic value to the Grade A building.”

Gaw Capital has over 13 years of experience investing in and/or turning around commercial properties in Greater China, including Hong Kong. The firm successfully transformed and repositioned properties such as 133 Wai Yip Street in Hong Kong, a former 12-storey industrial building turned creative office space; Sky Bridge HQ, a mixed-use project located in the heart of Linkong Economic Park; Pacific Century Place in Beijing, a 170,000 sqm (1.8 million sq.ft) renovated mixed-use commercial property with two office towers and two serviced apartment blocks on a retail podium; Cross Tower in Shanghai, a 22-storey office with a two-storey retail podium; Ciro’s Plaza in Shanghai, a mixed-use property with a 39-storey office building and a 28,000 sqm (302,000 sq.ft.) retail mall; Plaza 353 in Shanghai, a 40,000 sqm (430,000 sq.ft.) renovated mall with historical heritage status; Popark Plaza in Guangzhou, a 92,400 sqm (994,000 sf.ft.) retail mall connected to the Guangzhou East Rail Station, with high-speed trains to Shenzhen and Hong Kong, and access to two major subway lines; and Metropolitan Plaza in Guangzhou, a 88,800 sqm (956,000 sq.ft.) mall above on two subway lines.


About Gaw Capital Partners
 
Gaw Capital Partners is a uniquely positioned private equity fund management company that focusing on real estate markets in greater China and other high barrier-to-entry markets globally.

Specializing in adding strategic value to under-utilized real estate through redesign and repositioning, Gaw Capital runs an integrated business model with own in-house asset management operating platforms in retail, hospitality, property development and logistics. The firm's investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, hospitality and logistics warehouses.

Gaw Capital has raised five commingled funds targeting the Greater China and APAC regions since 2005. The firm also manages value-add/opportunistic funds in Vietnam and the US, a Pan-Asia hospitality fund, a European hospitality fund and also provides services for separate account direct investments globally.

Gaw Capital has raised equity of USD$ 9.8 billion since 2005 and commands assets of USD$ 18.3 billion under management as of Q2 2018.

About QuadReal Property Group (www.quadreal.com)
Headquartered in Vancouver, British Columbia, QuadReal Property Group is a Canadian real estate investment, development and management company operating on a global scale. The company’s CAD $24.5 billion portfolio spans 23 global cities across 17 countries. Owned by bcIMC, one of Canada's largest institutional investors, QuadReal was established to manage its real estate investment portfolio. QuadReal aims to deliver prudent growth and strong investment returns, and to create and sustain environments that bring value to the people and communities it serves.