Asian investors hungry for US property
Hong Kong–based Gaw Capital Partners is one of a number of investment managers helping Asian investors satisfy their growing appetite for US property (see cover story, page 16). A group led by Gaw Capital has agreed to purchase the 141,213-square-metre Columbia Centre in Seattle from Beacon Capital Partners. An official statement has not been made, but Real Capital Analytics lists the sales price as US$725 million.
Columbia Centre contains 76 storeys of grade A office space above ground and seven storeys of various use below ground. Major tenants include Heller Ehrman White & McAuliffe LLP and Bank of America Corp.
Columbia Centre, located at 701 Fifth Avenue, is the tallest skyscraper in the downtown Seattle skyline. It is also the second-tallest structure on the West Coast, after Los Angeles’ 72-storey US Bank Tower. Columbia Centre was finished in 1985. The building’s structure is composed of three geometric concave f