Hong Kong's Gaw Capital buys iconic Tokyo mall for over $1 billion
07/02/2025 07:00
By Anton Bridge
TOKYO, Feb 7 (Reuters) - Real estate private equity firm
Gaw Capital and Singapore-based investor Patience Capital Group
have completed the acquisition of Tokyu Plaza Ginza, a prime
mall in central Tokyo, in a deal worth more than $1 billion,
Gaw's Japan head said on Friday.
The Hong Kong-based investor said it had formed a joint
venture for the acquisition and management of the property in
which it holds 91%, with the remaining 9% held by Patience
Capital Group.
The deal is the latest in a run of major property
transactions in the hot Japanese market.
Canadian firm Brookfield Asset Management last month closed
two real estate investments in Japan for a total of $1.6
billion.
"With favourable macroeconomic fundamentals supporting
Japan's real estate sector, this is a highly opportune time to
invest," Gaw's Head of Japan Isabella Lo said in a statement.
The Tokyu Plaza transaction is Gaw's largest in Japan, where
it has been operating since 2014. The firm has roughly 655
billion yen ($4.32 billion) in assets under management in Japan,
which represents 40% growth over the past 12 months, Lo said.
($1 = 151.6200 yen)
(Reporting by Anton Bridge; Editing by Jamie Freed)
((Anton.Bridge@thomsonreuters.com;))