Gaw Capital Partners, through a consortium led by a fund under its management and in partnership with Schroder Pamfleet, BOC Life and other consortium partners, has completed the acquisition of Cityplaza One in Hong Kong from Swire Pacific and Swire Properties.
The acquisition price of the office tower is HK$9.845 billion ($1.27), amounting to an average price of around HK$15,609 ($2,013) per square foot, following an agreement signed on Nov. 9, 2020. Separately, Manulife and Gaw Capital Partners have entered into definitive documents, pursuant to which Manulife will join the consortium as the single-largest investor subject to the satisfaction of customary completion conditions.
Completed in 1997 and located in the growing business center of Taikoo Shing in Hong Kong’s Eastern District, the 21-story, class A office tower has a GFA of around 630,000 square feet with direct walkways connecting the buildings to Tai Koo MTR station and Cityplaza shopping ma
