InfraRed NF closes US$92.2m mezzanine financing deal

InfraRed Capital Partners

InfraRed NF, the leading Greater China real estate investment manager, is pleased to announce the closing of a US$92.2m financing investment with Fullsun International Holdings Group (“Fullsun International”), a Hong Kong listed property developer. The loan will be used by Fullsun International to fund further construction and the acquisition of projects from smaller developers to support the further growth of the company.

The loan is secured on a portfolio of two ring-fenced partially completed residential development projects in Changsha, with additional credit enhancement provided from a mature office asset in Hong Kong. Changsha is the provincial capital of Hunan, which has a population of around 70 million people, and is a major logistics hub for inner China. The estimated gross portfolio value of the ring-fenced collateral is more than US$380m.

Fullsun International is the offshore listed vehicle of a large mainland Chinese developer, Fusheng Group whose sales achieved approximately US$9bn in 2018 according to third party database Soufun. The loan was structured with the additional benefit of recourse to the Hong Kong listed parent company.

InfraRed NF, co-invested with Firewave Management Limited, an indirect wholly-owned subsidiary of Metro Holdings Limited, a Singapore listed company.

InfraRed NF was able to execute the transaction in under two months due to its expertise and reputation in mezzanine financing. To date, InfraRed NF has completed 10 mezzanine investments, seven of which have been repaid, that committed over US$650m of capital to mezzanine transactions in China. This new loan forms part of InfraRed NF’s investment strategy to focus its lending activity on projects in regional hubs, benefiting from infrastructure investment, with strong economic fundamentals and sizeable population bases.

Grant Chien, Head of Special Situations Financing at InfraRed NF Investment Advisers, commented:

“Our track record of working with our portfolio companies on-the-ground combined with our operational know-how gave us the insight and ability to close the deal in under two months. Focusing on positive, long-term trends enables the team to look beyond short-term residential sector cyclicality and recent capital market volatility. Fullsun International has a strong acquisition pipeline of distressed opportunities and we look forward to continue working with them across Tier One and select Tier Two cities.”

Stuart Jackson, CEO of InfraRed NF Investment Advisers, added:

“A window of opportunity has arisen for InfraRed NF from the well-publicised contraction of available credit within China. China’s deleveraging is creating an attractive investment environment for us resulting in a healthy pipeline of mezzanine and value-add deals.”

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CapMan Real Estate leases 5,000 sqm in Gärdet to Swedish Defence Recruitment AgencyCapMan Real Estate leases 5,000 sqm in Gärdet to Swedish Defence Recruitment Agency

CapMan Real Estate press release         7 February 2019 at 8.00 a.m. CET

CapMan Real Estate leases 5,000 sqm in Gärdet to Swedish Defence Recruitment Agency

Government entity Swedish Defence Recruitment Agency has signed a lease with CapMan for approx. 5,000 sqm in the property Lybeck 2 in Gärdet, Stockholm. CapMan Nordic Real Estate II Fund acquired Lybeck in December 2017 and has since actively worked with the management of the property.

“It is very exciting that the Swedish Defence Recruitment Agency has decided to relocate to Lybeck and it fits in well with our strategy to improve the quality of the existing office building,” says Anna Reuterskiöld, Investment Director at CapMan Real Estate.

“We are looking forward to moving into new premises which will be well suited for our operations. To have all of our premises in one coherent floor is very positive for both our employees and for everyone who visits us in order to try out for different educations and positions,” says Annika Fahlvik, head of the operational support at the Swedish Defence Recruitment Agency.

For more information please contact:
Anna Reuterskiöld, Investment Director, CapMan Real Estate, tel. +46 731 54 22 31

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value-creation in its target companies and assets. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate and created substantial value in these businesses and assets over the last 30 years. CapMan employs today approximately 120 private equity professionals and has approximately €3 billion in assets under management. We mainly manage the assets of our customers, the investors, but also make investments from our own balance sheet. Our objective is to provide attractive returns and innovative solutions to investors. Our current investment strategies cover Buyout, Growth, Real Estate, Infra, Credit and Russia. We also have a growing service business that currently includes procurement services (CaPS), fundraising advisory (Scala Fund Advisory), and fund management services. www.capman.com

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EQT Real Estate, Metropolitan Real Estate and STAM Europe pre-let Paris asset to Adobe for French HQ

eqt

A joint venture between EQT Real Estate I fund (“EQT Real Estate”), a fund managed by Metropolitan Real Estate (“Metropolitan”) and STAM Europe has agreed a pre-let agreement with Adobe, one of the largest and most diversified software companies in the world headquartered in San Jose, California, for the entirety of Code, an office property situated on Rue Lauriston in central Paris. The 5,800 sqm asset will serve as Adobe’s new French HQ upon completion, which is expected in spring 2019.

Located moments from the Place du Trocadéro, Code presents an architecturally striking asset comprising seven levels. The asset offers 5,800 sqm of office space, including an 800 sqm co-working area and an out-door patio for tenants. The asset also boasts a landscaped roof top that can be accessed by all occupiers, a dedicated wellness area, bike space and a carpark. Code also has a potential ERP classification, and benefits from strong natural light, providing qualitative communal spaces.

Having acquired the asset in 2016, EQT Real Estate, Metropolitan and STAM Europe have repositioned the property by undertaking a full-scale redevelopment, transforming a derelict, unused space into a Grade A office building in central Paris.

Olivier Astruc, Managing Director at EQT Partners and advisor to the fund, said: “EQT Real Estate strives to deliver best-in-class assets for users and investors. The Code development has been an exciting journey, as we have turned these obsolete garage and residential buildings into premium office facilities. We look forward to welcoming Adobe to these flexible and stimulating surroundings.”

Edward Bates, Managing Director at STAM Europe continues: “The ambitious restructuring program we have implemented has triggered a lot of interest from users. We are particularly proud to host Adobe France in this building that will provide an exceptional experience and work environment and will surely inspire Adobe employees to collaborate, create, innovate and perform. “

The owner was represented by BNP Paribas and JLL as landlord commercial representatives and Ashurst as legal representative. The tenant was represented by Colliers as tenant representative and Hogan Lovells as legal representative.

Contacts EQT
Olivier Astruc, Managing Director at EQT Partners, Investment Advisor to EQT Real Estate I, +44 20 8432 5426
Robert Rackind, Partner and Head of EQT Real Estate at EQT Partners and Investment
Advisor to EQT Real Estate I, +44 207 430 5555
EQT Press Office, +46 8 506 553 34

About EQT
EQT is a leading alternative investments firm with more than EUR 50 billion in raised capital across 28 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About EQT Real Estate I
EQT Real Estate I will seek to make direct and indirect controlling investments in real estate assets, portfolios and operating companies that offer significant potential for value creation through repositioning, redevelopment, refurbishment and active management. The investments will typically range between EUR 50 million and EUR 200 million. The fund is advised by an experienced team from EQT Partners, with extensive knowledge of property investment, development and intensive “hands-on” asset management, and with access to the full EQT network, including 10 European offices and more than 250 industrial advisors.

More info: www.eqtpartners.com/Investment-Strategies/real-assets/real-estate/

Contact STAM Europe
Samantha SUDRE ROUX
SSudreRoux@stam-europe.com
Tél: +33 (0)1 55 35 98 30

About STAM Europe
Based in Paris and established for 20 years, STAM Europe is an independent investment and asset management company particularly focused on the French market. STAM Europe operates with a fully integrated team of experienced professionals with financial, legal, real estate and technical backgrounds. The firm manages separate accounts on behalf of international investor partners. STAM’s track record covers a diversified array of real estate asset classes and the full range of risk-adjusted return profiles. Throughout 2018, STAM has executed a total of €750 million in transactions on behalf of its clients and partners.

STAM France IM is a portfolio management company incorporated in 2008 and registered under the French Financial Market Authority (AMF) to manage real estate collective investment vehicles (OPPCI).

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Rockefeller Group Sells New Industrial Building to KKR for $43.5 Million

KKR

Company Continues Plans for Future Inland Empire Developments Following Success of Optimus Logistics Center

IRVINE, Calif., Jan. 30, 2019 /PRNewswire/ — Rockefeller Group, a leading real estate developer, owner and operator, announced today that it has sold a recently completed 406,650-square-foot industrial distribution building to KKR for $43.5 million.  The building, located at Optimus Logistics Center in Perris, Calif., a 1.45 million-square-foot industrial complex, is the second building to be completed and sold at the project, following the September 2018 sale of a 1.04 million-square-foot distribution building to Ferguson Enterprises.

Optimus Logistics Center, Perris, Calif.

“The sale of the last building at Optimus marks an important milestone for Rockefeller Group in the Inland Empire,” said James V. Camp, Senior Vice President and Regional Development Officer for Rockefeller Group’s West Region.  “In less than two years, we were able to develop 1.45 million square feet of industrial space on a speculative basis along the I-215freeway and complete the business plan by selling both buildings shortly after completion of construction.  This success confirms that the I-215 corridor has become a destination for companies who need to distribute throughout the Western United States and also signifies the appetite by investors who see the area’s growth potential.”

Rockefeller Group completed construction of Optimus Logistics Center, which is a joint venture of Rockefeller Group and MBK Real Estate (MBK), in September 2018.

“We are excited to add Optimus Logistics Center to our industrial portfolio,” said Roger Morales, Head of Real Estate Acquisitions in the Americas at KKR.  “This is our first acquisition in the Inland Empire and we are confident that this investment will be attractive to potential tenants. Rockefeller Group has built an excellent asset.”

KKR is making the investment through its Real Estate Partners Americas II Fund.

“Throughout the escrow process on this sale, there was strong lease activity on this building given the site’s direct access to I-215 and proximity to I-10 as well as the growing demand for industrial space by e-commerce companies,” said Marc Berg, Vice President and Regional Director for Rockefeller Group’s West Region.  “We had been negotiating with several tenants prior to closing escrow with KKR and are confident that they will be successful in finding a tenant for the building in the near term.”

Along with the completion of Optimus Logistics Center, Rockefeller Group completed 425,500 square feet of distribution space consisting of two buildings at Tri-City Industrial Complex in San Bernardino, whereby one of those buildings (Building #2 at 81,286 square feet) sold to 4F Capital in September 2018.

“Rockefeller Group is committed to developing industrial distribution and e-commerce facilities in the Inland Empire given the current demand for space in the region,” said Camp.  “In 2019, the Inland Empire is expected to see continued strong absorption, stable vacancy rates and growing rents.  As a result, we will continue our development activities in the Inland Empire and other markets in the Western United States.”

Mike McCrary, Peter McWilliams, Sharon Wortmann and Scott Coyle of JLL represented Rockefeller Group and KKR for the sale at Optimus.

About Rockefeller Group
Rockefeller Group is a leading real estate developer, owner and operator, known since the development of Rockefeller Center for pioneering large-scale urban mixed-use development.  For nearly nine decades the company has been trusted for its financial strength, stability and vision, and today remains committed to the selective development of innovative, high-quality office, industrial, residential and mixed-use properties in urban centers and strategic distribution markets.  Visit RockefellerGroup.com.

About KKR
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

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CapMan Real Estate grows its Nordic residential mandate for BVK to €820 million as it completes a significant off-market portfolio transaction

CapMan Real Estate has completed the acquisition of a residential portfolio from the Finnish fund manager ICECAPITAL and its local investors for a fund on the account of Bayerische Versorgungskammer (BVK), Germany’s largest public pension fund group.

The acquisition of ICECAPITAL Housing Fund III portfolio comprises 37 residential assets and 1,740 apartments with a combined area of some 100,000 sqm. The apartments are located mostly in the Helsinki Metropolitan Area. The off-market transaction was sourced by CapMan.

Following the acquisition, the investment volume of CapMan’s mandate from BVK increases to approximately €820 million, invested mostly in Helsinki Metropolitan Area, Copenhagen and Aarhus.

CapMan will continue to advise the fund on sourcing and managing transactions in the Nordics. The timing and size of additional commitments will be subject to the availability of suitable investment opportunities.

“We’re very pleased to add this high-quality portfolio to the BVK fund and continue to see increasing interest from international investors for Nordic residential properties,” comments Sampsa Apajalahti, Investment Director at CapMan Real Estate.

“The growth of the mandate is an excellent example of the confidence that international institutions have in CapMan’s local expertise. Investment mandates are part of CapMan’s strategy for servicing a broader customer base through our platform of local investment experts,” says Joakim Frimodig, CapMan’s CEO.

The mandate advised by CapMan is a real estate fund held on the platform of Universal-Investment. CapMan receives long-term advisory and performance fees from the mandate in accordance with standard industry practices.

For further information, please contact:
Sampsa Apajalahti, Investment Director, CapMan Real Estate, tel. +358 40 575 2363
Mika Matikainen, Managing Partner, CapMan Real Estate, tel. +358 40 519 0707
Joakim Frimodig, CEO, CapMan Plc, tel. +358 50 529 0665

About CapMan and CapMan Real Estate
CapMan Real Estate’s team consists of over 30 professionals based in Helsinki, Stockholm and Copenhagen. CapMan Real Estate was established in 2005 and has over €1.9 billion of assets under management deployed across four different investment strategies.

CapMan is a leading Nordic private asset manager with an active approach to value-creation. CapMan employs over 120 private equity professionals and has €3 billion of assets under management. Our current investment strategies cover private equity, real estate, infrastructure and credit. We also have a growing service business that includes procurement services, fundraising, and fund management services. www.capman.com

About Universal-Investment
With fund assets of around EUR 409 billion under administration, thereof EUR 321 billion in own vehicles and around EUR 88 billion in, inter alia, insourcing, well over 1,200 mutual and special investment mandates and a workforce of around 650, Universal-Investment is the largest independent investment company in the German-speaking region. With its three key service areas Administration, Insourcing and Risk Management, the company’s lies on the efficient and risk-orientated management of funds, securities, alternative investments and real estate. The investment company is the central platform for independent asset management and unifies the investment know-how of portfolio managers, private banks, asset managers and investment boutiques. Founded in 1968, the Universal-Investment group is headquartered in Frankfurt/Main and has subsidiaries and holdings in Luxemburg and Austria. It is one of the pioneers of the investment industry and has meanwhile become the market leader in the areas of master-KVG and private label funds. According to the 2018 PwC ManCo Survey, Universal-Investment is the largest AIFM ManCo in Luxembourg; among the Third-Party-ManCos, Universal-Investment also ranks in first place (as of 30 November 2018).

More information available at: www.universal-investment.com

About Bayerische Versorgungskammer
Bayerische Versorgungskammer is the competence and service center for occupational and communal pension schemes and Germany´s largest pension scheme group under public law. As a public authority of the Bavarian Ministry of the Interior, it is the joint executive body of twelve liberal professions´ and communal pension schemes. Bayerische Versorgungskammer covers about 2.2 million insured persons in total, with contributions of €4.6 billion and €3.3 billion pension payments annually. It currently has €72 billion assets under management and 1,270 employees. www.versorgungskammer.de

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EURAZEO PATRIMOINE acquires EUSTON HOUSE OFFICE BUILDING in London

Eurazeo

Paris, January 10, 2019 – Eurazeo Patrimoine, the Eurazeo division dedicated to investment in real
assets, and in particular to Real Estate, has announced the acquisition of Euston House, a London
office building, alongside Arax Properties.

The Euston House office building, which is a freehold, was acquired for approximately €105 million,
with a Eurazeo equity investment commitment after financing of around €40 million. Euston House
has a surface area of approximately 11,000 m² (119,000 sq ft). It is located in the London Borough of
Camden, which comprises a large number of healthcare and educational institutions and recently has
seen a transformation around the King’s Cross St. Pancras and Euston railway stations due to the
world’s leading technology and media companies such as Google, Facebook and Universal renting or
building large office complexes for their European or UK headquarters. The area also benefits from
excellent transport links to the North of England, Europe (through the Eurostar to Paris, Amsterdam
and Brussels) and is expected to benefit from the planned second British high-speed line HS2 which
is to link London to Birmingham, Manchester, Leeds, Edinburgh and Glasgow.
The building is fully leased until 2022 and will therefore provide a secure rental income and ultimately,
strong rental reversion potential. A refurbishment program will be implemented to capture this potential
and significantly enhance the asset’s value.

Renaud Haberkorn, Managing Partner of Eurazeo Patrimoine, said: “Contrary to the Continental
European markets, where values have soared over the past three years, the London office market
experienced a slight correction recently, despite rental demand remaining strong. The Euston House
investment has tremendous value creation potential in one of London’s most dynamic and wellconnected markets. Building on this initial London investment, Eurazeo Patrimoine will be well placed
to seize any further opportunities that arise.

About Eurazeo
o Eurazeo is a leading global investment company, with a diversified portfolio of €17 billion in assets under
management, including nearly €11 billion from third parties, invested in over 300 companies. With its considerable
private equity, venture capital, real estate, private debt and fund of funds expertise, Eurazeo accompanies companies
of all sizes, supporting their development through the commitment of its 235 professionals and by offering deep sector
expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid
institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment
horizon enable Eurazeo to support its companies over the long term.

Eurazeo has offices in Paris, New York, Sao Paulo, Buenos Aires, Shanghai, London, Luxembourg, Frankfurt and
Madrid.

o Eurazeo is listed on Euronext Paris.
o ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

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The Carlyle Group’s Metropolitan Real Estate Closes Latest Secondaries Program, Raising $1.2 Billion

Carlyle

Secondaries Offer Exposure to Seasoned Investments with Shortened Holding Periods

These Defensive Characteristics Resonate with Investors Late in the Economic Cycle

New York, NY – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced it has closed Metropolitan Real Estate’s Secondaries Program II, raising $1.2 billion and exceeding its $750 million target. The program invests in the real estate secondaries market globally, providing liquidity to investors in private equity funds and other partnership structures. Program II builds on Metropolitan Real Estate’s secondaries investment strategy dating back to 2002 and its first dedicated secondaries program, which launched in 2014.

Sarah Schwarzschild, Head of Secondaries at Metropolitan, said, “Secondaries offer exposure to seasoned real estate investments with a shortened holding period. These defensive characteristics, among others, are resonating with our investors late in the economic cycle. As the secondary market continues to grow, we remain focused on acquiring high quality assets with capable partners at attractive valuations for our investors.”

Lauren Dillard, Head of Carlyle Investment Solutions, said, “Strong investor interest in this program is a testament to the team, their proven investment strategy and the depth of the opportunity. We are grateful for the support of our returning and new investors and will work hard to create value for them.”

Metropolitan Real Estate is a multi-manager real estate private equity investment platform that is part of Carlyle’s Investment Solutions business. The platform encompasses primary fund investments, direct property co-investments and secondaries, creating multiple and complementary ways for Metropolitan to invest with its partners.

Metropolitan’s secondary investment strategy benefits from its deep market relationships and foundation of over 225 existing fund investments. Program II has already closed five investments spanning the U.S., Europe and Asia in all major property types.

Metropolitan has a global team that comprises more than 40 people in the U.S., Europe and Asia. It is led by an investment committee averaging more than 25 years of industry experience. Metropolitan manages global real estate commingled funds and separate accounts comprised of primaries, secondaries and co-investments.

* * * * *

Contact:

The Carlyle Group
Liz Gill: +1 (202) 729-5385
Elizabeth.gill@carlyle.com

* * * * *

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $212 billion of assets under management across 339 investment vehicles as of September 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents.

Web: www.carlyle.com
Videos: www.youtube.com/onecarlyle
Tweets: www.twitter.com/onecarlyle
Podcasts: www.carlyle.com/about-carlyle/market-commentary

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Gaw Capital Partners and Consortium Partners Acquire Four Premium Grade A Office Buildings (Block A, B, C & D) at Shanghai MixC

Gaw Capital

January 7, 2019, Shanghai – Real estate private equity firm Gaw Capital Partners and consortium partners announced that the firm, through a fund under its management, have acquired four premium Grade A office buildings (Block A, B, C, & D) at Shanghai MixC, 1799 Wuzhong Road in the Minhang District of Shanghai from China Resources Capital Management Ltd.

The project is comprised of four Grade A office blocks, with a total saleable GFA of 60,807 sqm (654,521 sq. ft.). Its office area consists of 56,950 sqm (613,005 sq. ft.) with 3,857 sqm (41,516 sq. ft.) of retail space. The project is situated in the greater Hongqiao area and is at the conjunction of three districts (Changning, Xuhui and Minhang), enjoying excellent transport links from its position on top of the Ziteng Road Metro Station on Metro Line 10 and a shuttle bus service to Hechuan Road Metro Station on Metro Line 9. The office buildings are in close proximity to important business districts, including Hongqiao, Caohejin, Qibao, Xinzhuang, Xujiahui, Zhongshan Park, Gubei and South Shanghai Railway Station, among others, with tenants enjoying the benefit of sophisticated commercial infrastructure at the properties. They are also adjacent to the city’s Korean community, which is an especially attractive location for Korean companies such as Samsung and LG, providing the properties with a strong potential tenant base.

With the development of the high-speed railway significantly reducing travel time, the project’s proximity to Hongqiao Railway Station makes it an ideal office location for companies that are headquartered in other Yangtze River Delta cities but plan to expand to Shanghai and to the rest of the country.

The project is next to Shanghai MixC mall, developed and run by China Resources Land, creating a strong synergy with the office buildings and provides advanced amenity support. The project will offer a diversified income stream with long-term rental and capital appreciation potential in a promising location that is very attractive for office tenants.

Shanghai government has initiated a wide range of policies to facilitate the development of decentralized areas, which in turn stimulates office demand. With tenants looking to move away from central areas in recent years, and thanks to its great accessibility and mature business environment, we are confident that the office buildings will be attractive for tenants that would like an alternative to the high rents in Shanghai’s CBD area.

Humbert Pang, Managing Principal and Head of China for Gaw Capital Partners, said: “Followed by our previous acquisition of SKY SOHO in April 2018, Gaw Capital is confident in acquiring four premium Grade A office  buildings (Block A, B, C & D) at Shanghai MixC, which presents an excellent opportunity to capture the growth opportunities arising from the Shanghai Hongqiao Transportation Hub. With the China International Import Expo (CIIE), the world’s first import-themed national level expo, and Hongqiao International Trade Forum, being held at National Exhibition and Convention Center (Shanghai) in Hongqiao Central Business District, it brings more vibrant commercial activities in the area.”

He added, “The current existing tenancy structure and tenancy mix could be further optimized and upgraded to achieve better overall rental performance. Gaw Capital will enhance the building’s quality and image by applying its unique approach to asset management to provide a better working environment and attract more tenants.”

Gaw Capital’s asset management team will also look to enhance the property through adding innovations to the common areas such as the entrance, lobby and lift lobby, and reshuffling the signage and advertising space so as to enhance its rental performance.

Gaw Capital has over 13 years of experience investing in and/or turning around commercial properties in Greater China, including Hong Kong. The firm successfully transformed and repositioned properties such as 133 Wai Yip Street in Hong Kong, a former 12-storey industrial building turned creative office space; Sky Bridge HQ, a mixed-use project located in the heart of Linkong Economic Park in Shanghai; Pacific Century Place in Beijing, a 170,000 sqm (1.8 million sq. ft.) renovated mixed-use commercial property with two office towers and two serviced apartment blocks on a retail podium; Cross Tower in Shanghai, a 22-storey office with a two-storey retail podium; Ciro’s Plaza in Shanghai, a mixed-use property with a 39-storey office building and a 28,000 sqm (302,000 sq. ft.) retail mall; Plaza 353 in Shanghai, a 40,000 sqm (430,000 sq. ft.) renovated mall with historical heritage status; Popark Plaza in Guangzhou, a 92,400 sqm (994,000 sq. ft.) retail mall connected to the Guangzhou East Railway Station, with high-speed trains to Shenzhen and Hong Kong, and access to two major subway lines; and Metropolitan Plaza in Guangzhou, a 88,800 sqm (956,000 sq. ft.) mall located above two subway lines.

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H.I.G. Capital Invests in Norway Office Buildings

LONDON – December 20, 2018 – H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity investment firm with over €26 billion of equity capital under management, announced today that one of its affiliates has recently completed three transactions in Norway, acquiring high quality office assets totaling c. 100,000 sqm. Terms were not disclosed.

H.I.G. continues to add to its sizable holdings of real estate assets across Europe, consisting of both equity as well as debt investments, with a particular focus on its target market of value-added small/midcap opportunities.

Riccardo Dallolio, Managing Director and Head of H.I.G. Europe Realty Partners in London, commented: “The Nordic real estate markets represent a key part of our European value-add strategy and we continue to actively look at opportunities in the small/midcap sector in these countries across the capital structure”.

Fredrik Steinum, Principal at H.I.G. Europe Realty Partners in London, added: “The transaction demonstrates our ability to leverage our strong network and track record across the Nordic markets to acquire high quality assets with significant value-add potential”.

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over €26 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of €28 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

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EQT Real Estate expands French portfolio with office acquisition in Paris for EUR 42 million

eqt

  • The transaction represents EQT Real Estate’s fourth acquisition in Paris – a 9,050 square metre vacant office property for a price of EUR 42 million
  • The property is located on rue Mozart in Clichy Saint-Ouen, North Paris, less than 200 metres away from a new Metro station due to open in 2020
  • The investment represents the EQT Real Estate I fund’s ninth investment to date

The EQT Real Estate I fund (or “EQT Real Estate”) continues to invest in established European office markets and today announces the acquisition of a vacant office property located in Clichy Saint-Ouen, North Paris. The property was acquired from a French pension fund advised by investment manager AEW.

Clichy Saint-Ouen is a mature sub-market in Paris with strong transport links. It will be further improved by the extension of Metro line 14 in 2020, which will place it just three stops from Paris’ Central Business District. The asset, built in 2001, comprises 9,050 square metres of office and storage space, and 199 parking spaces. The property is fully vacant and has been recently stripped out. The acquisition aligns with the firm’s strategy to focus on gateway cities with strong demographics driving sustainable GDP and office-based employment growth.

Olivier Astruc, Managing Director at EQT Partners and Investment Advisor to EQT Real Estate I, says: “This investment in Clichy, North Paris, further demonstrates the strategy to create modern offices suited to occupiers’ needs for affordable and accessible grade A office space. EQT Real Estate has now completed four transactions in Paris, building a portfolio exceeding 60,000 square metres and EUR 500 million in gross development value. We continue to see strong demand from institutional investors, and EQT Real Estate’s strategy will allow us to continue to unlock value in key European sub-markets.”

During the acquisition process, EQT Real Estate I was advised by Savills, George V Notaires, De Pardieu Brocas Maffei, JLL Project & Development Services and Beadmans. Funds managed by ACOFI Gestion financed the acquisition, advised by Etude Panhard and Allen & Overy. The vendor was advised by Prud’homme & Baum and investment manager AEW.

Contacts
Olivier Astruc, Managing Director at EQT Partners, Investment Advisor to EQT Real Estate I, +44 20 8432 5426
EQT Real Estate I, +44 207 430 5555
EQT Press Office +46 8 506 553 34

About EQT
EQT is a leading investment firm with more than EUR 50 billion in raised capital across 28 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About EQT Real Estate I
The EQT Real Estate I fund will seek to make direct and indirect controlling investments in real estate assets, portfolios and operating companies that offer significant potential for value creation through repositioning, redevelopment, refurbishment and active management. The investments will typically range between EUR 30 million and EUR 65 million. The fund is advised by an experienced team from EQT Partners, with extensive knowledge of property investment, development and intensive “hands-on” asset management, and with access to the full EQT Industrial Network, including 10 European offices and more than 500 core Industrial Advisors.

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