Gaw enters Seoul with mixed-use project
Gaw Capital Partners has made its first investment in Seoul with the acquisition of the office, retail and “officetel” portions of a twin tower building, Dongja 8. The acquisition marks the firm’s first acquisition in South Korea and the second non-Greater China investment for its $1 billion Gateway Real Estate Fund IV.
The financial terms and seller were undisclosed in the official announcement by Gaw.
The asset is located in the Yongsan district, in the south end of the CBD area of Seoul. The property consists of 984,478 square feet, and the opportunistic fund acquired more than 75 percent of the floor area.
Fund IV’s first non-Ch