Gaw Capital Partners Exits Cupertino Gateway Investment with more than 40% IRR

Investment made on behalf of Korean Investors
Builds on Successful Track Record of Gaw Capital's US Real Estate Investments
Gaw Capital Partners
2015-10-13 07:00 2944

HONG KONG, Oct. 13, 2015 /PRNewswire/ -- Real estate private equity firm Gaw Capital Partners has announced its exit from Cupertino Gateway, a class A office building in the heart of Silicon Valley. Gaw Capital Partners sold the property for USD 165 million with more than 40% internal rate of return (IRR). Gaw Capital Partners acquired Cupertino Gateway in September 2013 on behalf of institutional investors from Korea.

Cupertino Gateway is located just across the freeway from the nearly-completed 2.8-million-square-foot Apple 2 campus and also next to other Apple-leased buildings - Cupertino Gateway is truly the "gateway" to the heart of Silicon Valley. Cupertino Gateway combines three separate buildings for a total of 220,672 square feet.

Cupertino Gateway was one of the 12 separate account acquisitions led by Gaw Capital Partners on behalf of its Asian clients since 2010. In recent years, Gaw's Notable transactions include 333 Market Street in San Francisco in 2010; Three First National Plaza in Chicago in 2011; Vintners' Place in London in 2012; the Lloyd's Building and Paddington Waterside House in London in 2013; Exchange Tower in London in 2014 and Columbia Center in Seattle in 2015. In addition to leading the acquisition process (including due diligence), Gaw Capital Partners also provides debt financing advising and asset management in such transactions.

Goodwin Gaw, Chairman and Managing Principal of Gaw Capital Partners, said "We are delighted to have led the successful exit of this prime Silicon Valley property. We are proud of our ability to continually and consistently identify winning investment opportunities in challenging markets." Gaw Capital Partners also exited Vintner's Place, another separate account investment on Upper Thames Street in London, on behalf of Korean institutional investors with an exceptional return of 17.7 percent IRR and at a 1.58 multiple earlier this year. Both acquisitions were made during post-2008 financial crises. 

"This exit builds on the success of our other separate account direct investments for our valued limited partners (LPs)," said Christina Gaw, Managing Principal and Head of Capital Markets. "We are grateful for the investors' support and confidence in partnering with us. Gaw Capital Partners is dedicated to helping our LPs look for investment opportunities with favorable returns in the global real estate markets."

In addition to its separate account direct investment services, Gaw Capital Partners also manage four value-add opportunistic real estate private equity funds in Greater China and Asia and two funds in the US market.

About Gaw Capital Partners

Gaw Capital Partners is a uniquely positioned private equity fund management company that focuses in real estate markets in greater China and other high barrier-to-entry markets globally.

Specializing in adding strategic value to under-utilized real estate through redesign and repositioning, the firm's investments span the entire spectrum of real estate sectors, including residential development, commercial offices, retail malls, serviced apartments, and hotels.

Gaw Capital Partners has raised four real estate funds targeting the Greater China and Asia Pacific region, while Gaw Capital Partners USA is providing services for separate account direct investment and fund management in the US and UK markets.

Gaw Capital Partners has raised equity in excess of USD$5.22 billion since 2005 and currently commands assets of over USD$ 10.61 billion under management as of second quarter of 2015.

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Gaw Capital Partners
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Adam J. Steinberg
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Source: Gaw Capital Partners