TOKYO, April 10, 2017 /PRNewswire/ -- Real estate private equity firm Gaw Capital Partners today announced that it has purchased Minatomirai Center Building, a Class A office building in Yokohama, Japan through one of the funds under its management.
Located in the center of Minato Mirai, Yokohama's central business district, the 21-storey 95,000 sqm Class A office building is located on a 10,000 sqm site and was completed in 2010. It has direct access to Minato Mirai subway station which connects to both Tokyo and Haneda International Airport within 30 minutes and is two minutes by car from the Metropolitan Expressway. The property's current major tenants include Fuji Xerox Co. Ltd. and Lenovo Japan R&D Center.
Kenneth Gaw, Managing Principal and President of Gaw Capital Partners, commented, "As the second largest city in Japan with a thriving domestic and international business community, Yokohama has the growth potential to evolve into one of the country's most important business hubs. With this growth comes high demand for prime office space which the Minatomirai Center Building provides together with convenient transport links to Tokyo."
Yokohama is home to the global headquarters of large corporations including Nissan Motor, Chiyoda Corporation and Mitsubishi Heavy Industries, as well as the R&D centers of technology companies such as Apple, Fuji Xerox and Lenovo.
"Looking at Japan's real estate market overall, we are optimistic for its future growth and we look forward to exploring further opportunities across various property sectors in this country," Gaw added.
The transaction is the fourth real estate acquisition in Japan led by Gaw Capital and marks a significant move towards increasing its presence in Japan. Additional properties in Japan under Gaw Capital Partners' portfolio and its track record include Hyatt Regency Osaka, Aoyama Building in Tokyo and a retail flagship property in Omotesando, Tokyo.
About Gaw Capital Partners
Gaw Capital Partners is a uniquely positioned private equity real estate fund management company. Gaw Capital has raised five commingled funds targeting the Greater China and Asia Pacific region since 2005. The firm also manages opportunistic funds in Vietnam and the US along with a hospitality fund targeting the Pan Asia region. Additionally, it also provides services for separate account direct investments globally. Since 2005, the firm has raised equity of USD$ 7.5 billion and currently commands assets of USD$ 12 billion under management.
