PAG and Mapletree Investments to acquire Hong Kong office tower for $713m

PAG and Mapletree Investments Pte have agreed to form a 50-50 joint venture to acquire Hong Kong SAR’s Goldin Financial Global Centre (GFGC) from the receivers for $713 million.

Located in the heart of Kowloon East, the center of Hong Kong’s CBD2 commercial and business district, GFGC is a premium office building featuring spacious interiors and flexible floor plans, with a total lettable area of 886,703 square feet. It received LEED platinum and BEAM Plus platinum certification upon completion in 2016, the highest global and Hong Kong local industry standard for healthy, sustainable and cost-saving green buildings.

“We are very pleased to be partnering with Mapletree on this major acquisition. GFGC is an iconic building in Hong Kong’s CBD2 and represents very good value at a significant discount to replacement cost. This transaction further expands PAG Real Assets’ footprint in Hong Kong, where we see the ongoing post-Covid recovery creating attractive oppor