Hengli Investments Holding (Hengli Group) and real estate private equity firm Gaw Capital Partners, through a fund under its management, have closed the acquisition of portions of Cityplaza Three (including 10 high zone office floors and commercial areas) and Cityplaza Four from Swire Properties. The partners closed the acquisition of the two office towers for HK$15 billion ($1.9 billion).
Located in the business center of Taikoo Shing in Hong Kong’s Eastern District, the two 22-story grade-A office towers have a combined GFA of around 775,000 square feet and enjoy views over the Victoria Harbor with direct walkways connecting the buildings to Tai Koo MTR station and Cityplaza shopping mall.
Chang Wei Chen, chairman of Hengli Investments Holding (Group) said, “Record-high rents in traditional business areas have created demand for more cost-effective and spacious grade-A office buildings in emerging commercial districts, creating huge potential for areas like
