Ping An Insurance Aquires London’s Landmark Tower Place
Gaw Capital Partners, the Hong Kong-based real estate private equity firm, announced that on behalf of Ping An Insurance. it has successfully acquired Tower Place, located in London's EC3 insurance district. It is another landmark property acquired by Gaw Capital Partners for Ping An Insurance following the acquisition of Lloyd's Building in London's financial district in July 2013. In addition to leading the acquisition process (including due diligence), Gaw Capital Partners is also providing debt financing advising with this transaction.
Tower Place, London
Tower Place is situated in London's internationally recognized EC3 insurance district. Designed by world renowned architect Sir Norman Foster and built by Tishman Speyer, it is a Grade A office complex. Completed in 2003, the property provides 35.7 thousand square meters (or 385 thousand square feet). The property is currently 99.3% occupied, primarily leased to Marsh & McLennan as its UK headquarters. The seller is an open real estate fund represented by RREEF Investment GmbH.
In this deal, Gaw Capital Partners provided investment consulting service for Ping An Insurance and played an important role in the entire acquisition process. Since 2010, Gaw Capital Partners has acquired 7 properties in London on behalf of its Asian clients, and this is the 10th separate account investment globally. The company's other remarkable acquisitions in London include Vintners' Place (2012), Lloyd's Building (2013), Waterside House (2013), headquarters of Marks & Spencer located in the Paddington, and Exchange Tower (2014)...etc.
Goodwin Gaw, Managing Principal and Chairman of Gaw Capital Partners, said: "We are pleased to work for Ping An Insurance again, helping them with this significant UK investment. This transaction demonstrates the trust and confidence of China's institutional investors in us. As a company active in the real estate market of Greater China and Asia Pacific, Gaw Capital Partners is dedicated to helping China's and Asia's investors look for more and more investment opportunities with higher returns in the overseas real estate markets. We want to provide higher ROIs for our clients by investing in quality overseas properties like Tower Place."
The success of Gaw Capital's fundraising efforts is a vote of great confidence and trust in the company's successful track record in the US, London, Greater China and Asia Pacific - and of the returns for its investors. "Our partners trust us due to our extensive experience in overseas real estate management and investment. We've had a long track record of successful operations in North America and Asia, even prior to the founding of Gaw Capital Partners," said Goodwin Gaw, Chairman and Managing Principal of Gaw Capital Partners.