Investors - JUNE 4, 2015

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Gaw continues growing appetite for U.S. properties by Asian investors

by Andrea Waitrovich

Hong Kong–based Gaw Capital Partners has agreed to purchase the 1.52 million-square-foot Columbia Center in Seattle from Beacon Capital Partners. An official statement has not been made, but Real Capital Analytics lists the sales price as $725 million, or $478 per square foot.

Columbia Center contains 76 stories of class A office space above ground and seven stories of various use below ground. Major tenants include Heller Ehrman White & McAuliffe LLP and Bank of America.

Columbia is the tallest skyscraper in the downtown Seattle skyline. It is also the second-tallest structure on the West Coast, after Los Angeles’s 72-story U.S. Bank Tower. Columbia Center was finished in 1985. The building's structure is composed of three geometric concave façades with two setbacks, causing the building to appear like three towers standing side by side.

Beacon Capital purchased the office tower in 2007 for $621 million as part of a portfol

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