Gaw Capital and Patience Capital Group Acquire Tokyu Plaza Ginza

By Anton Bridge

TOKYO (Reuters) – Real estate private equity firm Gaw Capital and Singapore-based investor Patience Capital Group have completed the acquisition of Tokyu Plaza Ginza, a prime mall in central Tokyo, in a deal worth over $1 billion, Gaw’s Japan head stated on Friday.

The Hong Kong-based investor formed a joint venture for the acquisition and management of the property, holding 91% of the venture, with 9% held by Patience Capital Group.

This transaction is the latest in a series of significant property deals in Japan’s thriving market. Canadian firm Brookfield Asset Management closed two real estate investments in Japan last month for a total of $1.6 billion.

“With favorable macroeconomic fundamentals supporting Japan’s real estate sector, this is a highly opportune time to invest,” stated Gaw’s Head of Japan, Isabella Lo.

The Tokyu Plaza deal is Gaw’s largest in Japan, where it has been operating since 2014. The firm manages roughly 655 billion yen ($4.32 billion) in assets in Japan, reflecting 40% growth over the past year, according to Lo.

($1 = 151.6200 yen)