– Media OutReach – 21
May 2020 – Real
estate private equity firm Gaw Capital Partners announced today
that is has successfully raised GBP 28.5
million in mezzanine financing to refinance its preferred equity on its
landmark office building in Docklands, London. The lending consortium led by
Samsung Securities and KB Asset Management from Korea provided the five-year
mezzanine facility at a LTV of just under 71%.
Acquired by Gaw Capital on behalf of
Asian investors in September
2014, Harbour Exchange 1,2,4 and 5 comprises of 600,000 square feet of Grade A
office space over four buildings between 3 and 16 floors, 500 car parking
spaces and a nine acre freehold. The
property is well located in the Docklands area on the periphery of the Canary
Wharf estate, benefiting from the communications links and amenities, while
providing Grade A space at a significant discount to the Canary Wharf
estate. This has attracted a diverse
range of tenants from government, financial services, insurance, TMT and other
sectors, with key tenants such as the Financial Ombudsman Service, CLS, Booking.com
and QBE Insurance.
The deal highlights the growing
relationship between Gaw Capital and Samsung Securities dating back to another
successful deal of acquiring Aoyama Building, an Grade A office building
located in the center of Tokyo, Japan in 2019.
Gaw, Managing Principal & Head of
Capital Markets for Gaw Capital Partners said “We are delighted to have been able to
successfully raise this mezzanine facility with the support of Samsung
Securities and KB Asset Management against the uncertain backdrop of COVID-19
and significant global financial turmoil. This demonstrates that the market
remains open for quality assets with the right fundamentals and strong cash
flow. We are also excited to collaborate further with our Korean partners on
future opportunities in the UK and beyond.”
With over 15 years of property investment
and asset management experience, Gaw Capital Partners is distinguished for its
ability to add strategic value to real estate through revitalisation, redesign
and repositioning. The firm has an excellent investment track record in the
London market, with a number of strategic and high-potential commercial
properties in its portfolio, including Lloyd’s Building, 123-151 Buckingham
Palace Road, Milton Gate and Tower Place. Gaw Capital has also successfully
developed a sizable logistics platform, medical-asset backed platform,
mini-storage platform, premium outlet malls and education-related platform.
About Gaw Capital Partners
Gaw Capital Partners is a uniquely positioned private equity
fund management company that focusing on 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, Gaw Capital runs an integrated
business model with own in-house asset management operating platforms in
retail, hospitality, property development and logistics.
Gaw Capital has raised equity of USD$ 14.2 billion since
2005 and commands assets of USD$ 24.8 billion under management as of Q4 2019.