Gaw Capital Partners acquires office in Japan
Gaw Capital Partners has purchased Minatomirai Center Building, a class A office building in Yokohama, Japan, through one of the funds under its management.
No financial details were disclosed in a company announcement.
The transaction is the fourth real estate acquisition in Japan by Gaw Capital.
Minatomirai Center Building is located in the center of Minato Mirai, Yokohama’s central business district. The 21-story, 1.02 million square-foot building was completed in 2010. It has direct access to Minato Mirai subway station, which connects to both Tokyo and Haneda International Airport. The property’s current major tenants include Fuji Xerox Co. Ltd. and Lenovo Japan R&D Center.
“As the second-largest city in Japan with a thriving domestic and international business community, Yokohama has the growth potential to evolve into one of the country’s most important business hubs,” said Kenneth Gaw, managing principal and president of Gaw Capital Partners. “With this growth comes high demand for prime office space, which the Minatomirai Center Building provides together with convenient transport links to Tokyo."
Yokohama is home to the global headquarters of large corporations including Nissan Motor, Chiyoda Corp. and Mitsubishi Heavy Industries, as well as the R&D centers of technology companies such as Apple, Fuji Xerox and Lenovo.
Gaw Capital Partners’ Japan portfolio includes the Hyatt Regency Osaka, Aoyama Building in Tokyo and a retail flagship property in Omotesando, Tokyo.
Recently, Gaw Capital Partners held a $1.3 billion final close for Gaw Capital Real Estate Fund V, reaching its hard cap.