Hong Kong-based real estate private equity firm Gaw Capital, in partnership with Singapore’s Patience Capital Group, has purchased the Tokyu Plaza Ginza, a landmark mall in central Tokyo, in a deal valued at over $1bn.
The acquisition marks one of the largest property transactions in Japan’s booming real estate market.
The report cites Gaw’s Head of Japan, Isabella Lo, as confirming that the joint venture sees Gaw Capital holding a 91% stake in the property, with the remaining 9% owned by Patience Capital Group.
“With favourable macroeconomic fundamentals supporting Japan’s real estate sector, this is a highly opportune time to invest,” Lo said in a statement.
The acquisition is Gaw Capital’s largest in Japan since entering the market in 2014. The firm now manages approximately JPY655bn ($4.32bn) in assets in the country, reflecting a 40% increase over the past year.
