Gaw Capital buys four office in Shanghai
Gaw Capital and consortium partners has bought four office in Shanghai from China Resource Capital Management. Sales price undisclosed.
Hong Kong-based Gaw Capital have acquired tower blocks A, B, C, and D at Shanghai MixC on 1799 Wuzhong Road. The buildings are located on Wajhong Road in 1799.
Humbert Pang, a managing principal and head of China for Gaw Capital Partners, said that since the firm acquired Sky Soho in April 2018, it had been confident of acquiring these four towers at Shanghai MixC.
Sky Soho, which was recently purchased for 639 million euros, is in the same area.
The development projects are positioned to benefit from the Shanghai Hongqiao transportation hub, the first of its kind in China. Office blocks in the region are sold at a price range of RMB 50,000-70,000.
“The current existing tenancy structure and tenancy mix could be further optimised and upgraded to achieve better overall rental performance,” Pang said.
Gaw Capital is a private equity fund focusing on global real estate markets. Founded in 2005, the company supports real estate development projects. The company has provided five funds in China and APAC regions. In the first quarter of 2018 he ruled the presence of 18.3 billion dollars.
Sevdenur Demir / realestatecoulisse.com
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