Ardian Real Estate acquires office bulding “3 HÖFE WORK” in Berlin from LBBW

Ardian

Third investment in Berlin underscores importance of the German real estate market in Ardian Real Estate’s investment strategy

Frankfurt am Main/Berlin, May 23, 2019 – Ardian, a world-leading private investment house, has finalized an agreement with LBBW Immobilien Development GmbH to acquire the office project “3 Höfe work”, which is currently under construction, at Lützowstrasse 107-112 in central Berlin. Financial details of the transaction will not be disclosed.

Located in close proximity to Potsdamer Platz and the City Park at Gleisdreieck, the property will have around 18,000 sqm of rental space in one of Berlin’s most sought-after office locations. The property is the third investment by Ardian Real Estate in Berlin.

The office complex is expected to be completed in the third quarter of 2021. It will have seven stories and an underground car park with 52 parking spaces. The modern architecture offers attractive and flexible floor space options – allowing for a variety of room concepts – as well as high quality fixtures and fittings. The property is well-served by public transport and is within walking distance of Gleisdreieck underground station. With an area of 4,500 sqm, the property will comprise four development units with two main entrances and around 2,500 sqm of rental space per floor.

Bernd Haggenmüller, Managing Director, Ardian Real Estate, said: “The construction project “3 Höfe work” is an ideal addition to our existing property portfolio in Berlin. With the property at Lützowstrasse 105-106, we have just recently in December 2018 acquired a property in direct vicinity to our new investment, underscoring the attractiveness of the Gleisdreieck location. We anticipate continued high demand for office space in central Berlin and, combined with low vacancies, we expect further dynamic rental and value growth potential for modern and attractive properties. Berlin is known for its thriving and diverse corporate landscape and is therefore a core market for Ardian Real Estate, which acquires and develops attractive core-plus and value-add properties in key European cities.”

Other investments made so far by Ardian Real Estate in Germany include office complexes in Berlin (Spichernstrasse and Lützowstrasse), as well as the Konrad and Heinemann Bogen office complexes in Munich. Several months after acquiring the first two properties in Berlin, Ardian achieved considerable success with their subsequent leasing activity.

Acquired in September 2018, the office building on Spichernstrasse 2 in Berlin City-West – which possesses a rental space of 12,600 sqm – has now been fully leased following a quarter of leases in the area having expired at the end of 2018. The office complex at Lützowstrasse 105-106 is also experiencing high demand for rental space. The building has a rental space of approximately 30,000 sqm, and currently has an occupancy rate of more than 90 percent. With its proven rental expertise, Ardian will also look to promote “3 Höfe work”’s attractive office location.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$ 90bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with 600 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 880 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian

COMPANIES INVOLVED IN THE TRANSACTION

On the buyer’s side, Herbert Smith Freehills, REC and taxess acted in an advisory capacity during the transaction. P+P Pöllath + Partners and BNP Paribas. The debt financing for the transaction was provided by pbb Deutsche Pfandbriefbank.

PRESS CONTACT

CHARLES BARKER
Peter Steiner
peter.steiner@charlesbarker.de
Tel: +49 69 79409027
Jan P. Sefrin
Tel: +49 69 79409026

 

Hits: 5

Categories: News

Tags:

KKR Grows Real Estate Industrial Portfolio with Acquisition of New Industrial Buildings

KKR

New Investments Increase Portfolio to More than Seven Million Square Feet

NEW YORK–(BUSINESS WIRE)–May 13, 2019– KKR, a leading global investment firm, today announced the acquisition of two Class A industrial distribution buildings totaling 928,270 square feet. The assets are part of KKR’s Alpha Industrial Properties portfolio, a seven million square foot portfolio across eight high-growth markets in the U.S.

The buildings are located in Inland Empire, California, and in Lakeland, Florida, important national distribution nodes for a variety of tenants serving two of the fastest growing regions in the U.S.: the Southeast and the West. The properties were both recently completed and acquired directly from their respective developers.

“We are excited to add these buildings to our growing industrial portfolio and to be making our second acquisition in both Inland Empire and Central Florida, two very attractive markets for us given strong industrial supply-demand fundamentals,” said Roger Morales, KKR Member and Head of Commercial Real Estate Acquisitions in the Americas.

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

Since launching a dedicated real estate platform in 2011, KKR has invested or committed over $7 billion in capital across approximately 200 real estate transactions in the U.S., Europe and Asia as of March 31, 2019. The global real estate team consists of over 70 dedicated investment professionals, spanning both the equity and credit businesses.

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.

Source: KKR & Co. Inc.

Kristi Huller or Cara Major
212-750-8300
media@kkr.com

Hits: 5

Categories: News

Tags:

Gaw Capital Partners Announces Equity Investment in Series C Financing for Tencent Trusted Doctors

Gaw Capital

April 29, 2019, Shanghai – Real estate private equity firm Gaw Capital Partners announced today that a fund under its management has invested in the new round of financing for Tencent Trusted Doctors, a leading online-offline medical service provider in China combining online doctor-to-patient services with offline facilities.
Tencent Trusted Doctors currently connects 440,000 licensed physicians with 10 million patients on its platform. The online platform is supported by comprehensive brick-and-mortar facilities, with 50 physical clinics and outpatient surgery centers and over 1,000 health kiosks in operation. It aims to solve China’s healthcare pain points by providing an offline diagnosis and referral network, connecting online and offline medical services.
Gaw Capital Partners, having been a long-term strategic partner of Tencent Doctorwork prior to the merger, will continue to support Tencent Trusted Doctors’ expansion of its clinics and day surgery centers across Greater China by looking for suitable locations for leasing, introducing strategic partners, and setting up an asset-backed platform to acquire properties for specialists’ clinics or medical offices.
Tencent Trusted Doctors was founded after the merger between Tencent Doctorwork and Trusted Doctor in August 2018. Tencent Trusted Doctors seeks to provide one-stop solutions for patients via its offline and online platforms, creating China’s largest medical service platform that offers high-quality, personalized and affordable medical and healthcare services. The founders and the management team have a thorough understanding of the online medical service market and extensive experience in managing physical medical treatment facilities. The previous merger of Tencent Doctorwork and Trusted Doctors has created an important combination of knowledge and experience in scaling companies in China.
By 2021, Tencent Trusted Doctors plans to open over 500 clinics and day surgery centers. It is projected that one million practicing physicians will use the Tencent Trusted Doctors platform.
Humbert Pang, Managing Principal and Head of China for Gaw Capital Partners, said, “Gaw Capital Partners is delighted to invest in this exceptional new economy investment opportunity by not only providing capital but also our integrated resources in sourcing suitable vacant spaces that meet the needs of Tencent Trusted Doctors’ medical business, and help set up health kiosks and health centers to support Tencent Trusted Doctors’ offline expansion plan.”
This latest investment follows the recent decision by the Chinese government to roll out and standardize a series of supportive policies for Internet-related medical care and social medical services in order to open up the healthcare market to the private sector. The policies aim to eliminate the imbalance in how medical resources are used, ease the heavy burden of public hospitals in China, and build a regional healthcare information platform that integrates medical data and resources.
Gaw Capital has over 13 years of experience investing in and 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, and Sky Bridge HQ, a mixed-use project located in the heart of Linkong Economic Park in Shanghai. In recent years, the firm also purchased 29 local Hong Kong shopping malls from Link REIT, which it intends to reposition and revitalize into attractive hubs of community life.

Hits: 6

Categories: News

Tags:

Gaw Capital Partners and Beyond Ventures Announce Equity Investment in Series A Round Financing for Candao.com

Gaw Capital

April 18, 2019, Shanghai – Real estate private equity firm Gaw Capital Partners, through the private equity fund of its operation company, together with Hong Kong-based venture capital fund Beyond Ventures, today announced an equity investment in the Series A round fund-raising totalling RMB100 million (US$14.9 million) for Candao.com, a Chinese start-up specialising in food delivery management service. Chinese mobile internet-focused investment fund MFund also participated in this round of fund-raising.
Founded in April 2014, Candao.com is managed by Guangzhou Candao Information Technology Co Ltd. The company provides one-stop solutions for Chinese medium and large-sized chain restaurants, including SaaS delivery management systems, distribution systems, and business data analysis centers.
As of March 2019, Guangzhou–based Candao.com has served over 200 medium and large-sized chain restaurant brands, including Haagen-Dazs, Burger King, Papa Johns and Costa. The company currently provides services to nearly 30,000 offline restaurants across more than 300 cities in China, with over RMB1.4 billion (US$209 million) in monthly gross merchandise volume.
Proceeds of this fund-raising will be used to strengthen the research and development of the company’s systems and explore applications of technologies such as artificial intelligence (AI).
Humbert Pang, Managing Principal and Head of China for Gaw Capital Partners, said, “Gaw Capital continues to embrace and support the technology platforms that will enhance the operational efficiency, especially those operators related to real estate sector. The food delivery sector is booming in China and has become part of most people’s daily life. However, many F&B operators are still lagging behind on the resources to deal with the new technology ecosystem, which makes Candao an ideal easy one-stop platform for them.”
Beyond Ventures was founded in 2017 by Hony Capital, Hong Kong-based venture capital fund e-Garden Ventures in partnership with locally-grown serial entrepreneurs. It has invested a total of RMB240 million (US$35.88 million) in 13 companies including Chinese AI unicorn SenseTime, DNA Testing company Prenetics, CMOS chip maker SmartSens Tech, Hong Kong taxi-hailing app HKTaxi, and Hong Kong Online to Offline e-commerce platform YOHO.
Gaw Capital has over 13 years of experience investing in and/or turning around commercial properties in Greater China, including Hong Kong. The firm successfully transformed and repositioned properties such as 133 Wai Yip Street in Hong Kong, a former 12-storey industrial building turned creative office space; and Sky Bridge HQ, a mixed-use project located in the heart of Linkong Economic Park in Shanghai. In recent years, the firm also purchased 29 local Hong Kong shopping malls from Link REIT, which it intends to reposition and revitalize into attractive hubs of community life.
– End –
About Gaw Capital Partners
Gaw Capital Partners is a uniquely positioned private equity fund management company that focusing on real estate markets in greater China and other high barrier-to-entry markets globally.
Specializing in adding strategic value to under-utilized real estate through redesign and repositioning, Gaw Capital runs an integrated business model with own in-house asset management operating platforms in retail, hospitality, property development and logistics. The firm’s investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, hospitality and logistics warehouses.
Gaw Capital has raised five commingled funds targeting the Greater China and APAC regions since 2005. The firm also manages value-add/opportunistic funds in Vietnam and the US, a Pan-Asia hospitality fund, a European hospitality fund and also provides services for separate account direct investments globally.
Gaw Capital has raised equity of USD$ 11.4 billion since 2005 and commands assets of USD$ 18.2 billion under management as of Q4 2018.
Contacts:
Gaw Capital Partners
Camille Lam
Tel: +852 2583 7717/+852 9884 9198
Email: camillelam@gawcapital.com
www.gawcapital.com
Citigate Dewe Rogerson
Ryan Mellor
Tel: +852 3103 0130/+852 5315 2737
Email: ryan.mellor@citigatedewerogerson.com

Hits: 38

Categories: News

Tags:

TPG Real Estate Partners and Contera Form a Strategic Venture

TPG Capital

Partnership  brings together complementary capabilities to pursue industrial real estate  investment opportunities and development projects in Central Europe

San  Francisco, London, and Prague – April 17, 2019 – TPG Real  Estate Partners (“TREP”), the dedicated real estate equity investment platform  of global alternative asset firm TPG, and Contera, an established developer and  operator of industrial parks in the Czech Republic, announced today they have formed  a strategic venture (the “Venture”). The Venture will seek to acquire and  develop industrial projects in Central Europe, primarily in the Czech Republic  and Slovakia. One of the Venture’s first projects is a 140,000 sqm industrial  zone directly adjacent to the D1 highway in Ostrava-Hrušov.

In connection with the formation of the Venture, TREP has acquired  certain assets from Contera, including the company’s industrial parks in  Teplice and Ostrava, in a transaction valued at more than 90 million EUR.  Contera will continue to operate and manage these assets, as well as the assets  acquired and developed through the Venture. Contera will also continue to  independently own and manage the remainder of its portfolio, which includes approximately  110,000 sqm of industrial property.

“In forming the Venture, we are partnering with a highly experienced  and proven local team to pursue opportunities in a region and sector that  continue to experience strong growth trends,” said Michiel Celis of TREP. “We  look forward to making this a successful, long-term partnership and hope to invest  significantly more capital as we source new projects and execute on an exciting  pipeline of opportunities.”

“After 10 years of growing  Contera independently, thanks to this partnership with a strong global  investor, we can start a new era in the development of our company,” said Tomáš  Jirků, Co-Founder and CEO of  Contera. Dušan Kastl, Co-Founder and Managing Director of Contera, added, “Our  partnership with TREP will allow us to expand significantly and reach strategic  scale in the Czech and Slovak markets.”

TREP has a history of developing strategic partnerships with  high-quality management teams and operators to capitalize on compelling market  opportunities. Select current and past investments include A&O Hotels and  Hostels, Arlington Business Parks, Evergreen Industrial Properties, Icon  Industrial, P3 Logistic Parks, and TriGranit.

Founded in 2009, Contera develops, owns, and operates industrial  business parks in prime locations in the Czech Republic. Contera’s full-service  business model provides clients with leasing options within its portfolio, as  well as customized, build-to-suit solutions. The company also specializes in  the redevelopment and revitalization of brownfield properties in well-connected  locations. This year, Contera celebrates its 10th anniversary.

Cushman & Wakefield served as an advisor to Contera for this  transaction.

About TPG  Real Estate
TPG Real Estate (“TPGRE”) is the real estate platform of  TPG, a leading global alternative asset firm with more than $104 billion of  assets under management and 17 offices around the world. TPGRE includes TPG  Real Estate Partners (“TREP”), its equity investment platform, and TPG Real Estate  Finance Trust (NYSE: “TRTX”), its debt origination and acquisition platform.  TREP focuses primarily on investments in real estate-rich companies, property  portfolios, and select single assets located in North America and Europe. TRTX  originates and acquires senior real estate loans across a broad spectrum of  asset classes in North America. TPGRE currently manages approximately $10.8  billion in assets across both platforms. For more information please visit www.tpg.com.

About  Contera
Founded in 2009 by experienced professionals in the field of  property development, project and construction management, Contera owns and  operates industrial parks in major locations in the Czech Republic. Most  buildings in these parks have been completed and leased to leading Czech and  international companies, mainly in the logistics and manufacturing sectors. For  more information www.contera.cz

Media Contacts
Contera
Erika Straškrabová
+420 732 915 226
erika.straskrabova@contera.cz

TPG
US

Luke Barrett
415-743-1550
media@tpg.com

Europe
Alex Jones
+44 207 952 2000
tpg@greenbrookpr.com

Hits: 4

Categories: News

Tags:

HQ Capital Real Estate’s Investment and Sales Activity Nearly $1 Billion in 2018

HQ Capital

[New York, NY / Bad Homburg, 9 April 2019]. HQ Capital, a leading independent manager of alternative investments, announces $840 million of real estate activity in 2018. Over the past year, the firm invested in eight multifamily investments throughout the U.S. in Arizona, California, Colorado, Georgia, Massachusetts, Tennessee and Texas, representing nearly 1,800 units with total project costs of $410 million.

 

“We experienced strong rental apartment demand, driven by healthy job gains last year,” said Justin Sorem, Vice President of Real Estate Asset Management at HQ Capital. “In the coming year, we expect to see this absorption continue, which will position our projects for further successful sales to apartment buyers.”

Beyond its investments, HQ Capital sold 11 residential and commercial properties valued at approximately $430 million and representing more than 2,300 apartment units and 360,000 square feet of commercial space throughout the U.S. The properties, which were sold to various institutional and private investors, were located in Growth markets primarily in the Southern and Western regions of the U.S.

“In 2018, we continued to successfully invest in and sell U.S. multifamily properties,” said Jeremy Katz, Co-Head of Real Estate at HQ Capital. “We are benefiting from a highly active sales market in which institutional investors seeking nonvolatile current returns are attracted to the core product we are delivering.”

In addition to its investment and sales activity, HQ Capital added a 68,000-square foot office building in Washington, D.C. to its third-party asset management portfolio.

The company expects to continue its current level of business activity in 2019.

Hits: 1

Categories: News

Tags:

Hengli Investments Holding Group and Gaw Capital Partners Close Acquisition of Cityplaza Three & Four in Hong Kong

Gaw Capital

April 11, 2019, Hong Kong – Hengli Investments Holding (Group) Ltd. (“Hengli Group”) and real estate private equity firm Gaw Capital Partners, through a fund under its management, today closed the acquisition of portions of Cityplaza Three (including 10 high zone office floors and commercial areas) and Cityplaza Four from Swire Properties. The partners closed the acquisition of the two office towers for HK$15 billion, amounting to an average price of around HK$19,350 per sq. ft.

Located in the growing business center of Taikoo Shing in Hong Kong’s Eastern District, the two 22-storey Grade-A office towers have a combined GFA of around 775,000 sq. ft. and enjoy views over the Victoria Harbor with direct walkways connecting the buildings to Tai Koo MTR station and Cityplaza shopping mall. With the recent opening of the Central-Wan Chai Bypass, the towers also have quick and convenient access to the Central business district.

Chang Wei Chen, Chairman of Hengli Investments Holding (Group) Ltd., said, “Record-high rents in traditional business areas have created demand for more cost-effective and spacious Grade-A office buildings in emerging commercial districts, creating huge potential for areas like Taikoo Shing. Working closely with Gaw Capital’s team, we look forward to adding strategic value to Cityplaza Three and Four through property enhancement work, leveraging the towers’ attractive location in the fast-growing Eastern District to capture this new wave of tenants. This investment is one of the long-holding properties of our Group in Hong Kong, which provides continuous stable rental returns.”

Mr. Chen, possessing over 30 years of experience in investment, industrial and commercial sectors and real estate development, is the key decision maker on strategic development for Hengli Group. Mr. Chen is currently the second-largest shareholder of Wanda Hotel. Wanda Hotel is principally engaged in property development, property letting, property management and investment holding activities.

Kenneth Gaw, President and Managing Principal of Gaw Capital Partners, said, “We are delighted to be partnering with Hengli Group to purchase portions of Cityplaza Three (including 10 high zone office floors and commercial areas) and Cityplaza Four and to reposition them into attractive office space that appeals to the new wave of businesses moving into Taikoo district. Riding on the properties’ promising location, we will deploy a creative approach to asset management that strengthens the buildings’ pull factors and makes them a key destination for firms that are looking to relocate to the Eastern District.”

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; and Sky Bridge HQ, a mixed-use project located in the heart of Linkong Economic Park in Shanghai. In recent years, the firm also purchased 29 local Hong Kong shopping malls from Link REIT, which it intends to reposition and revitalize into attractive hubs of community life.

Hits: 2

Categories: News

Tags:

Ratos sells property to Swedish state

Ratos

As previously announced, Ratos has been in negotiations with the National Property Board of Sweden regarding a possible transfer of ownership of its Stockholm Lejonet 4 property to the Swedish state. Following these negotiations, an agreement has now been reached for the Swedish state to purchase the property. The agreement is conditional on the National Property Board receiving authorisation to complete the agreement from the Swedish government, upon approval from parliament, by 19 July 2019 at the latest.

Ratos will receive 550 MSEK in conjunction with the sale. The consolidated book value for the property at 31 December 2018 was 56 MSEK.

“The Stockholm Lejonet 4 property was acquired by Söderberg & Haak in 1938 and by Ratos AB (publ) in 1980. The security requirements in the area surrounding the property have gradually increased, resulting in a number of restrictions and obstacles in terms of how the property can be used, including entry and exit restrictions. Allowing the National Property Board to take over the property is therefore a logical alternative”, says Jonas Wiström, CEO of Ratos.

Ratos has the option to remain in the property until the end of 2021.

For further information, please contact:
Jonas Wiström, CEO, Ratos, +46 8 700 17 00
Helene Gustafsson, Head of IR and Press, Ratos, +46 70 868 40 50

About Ratos:
Ratos owns and develops unlisted medium-sized companies in the Nordic countries. Our goal as an active owner is to contribute to long-term and sustainable operational development in the companies we invest in and to make value-generating transactions. Ratos’s portfolio consists of 12 medium-sized Nordic companies and the largest segments in terms of sales are Construction, Industrials and Consumer goods/Commerce. Ratos is listed on Nasdaq Stockholm and has approximately 12,300 employees.

Hits: 15

Categories: News

Tags:

Unico and Partners Group acquire Portland office portfolio from Bill Naito Company

Partners Group

Unico Properties LLC, a subsidiary of Unico Investment Group LLC, a real estate investment and operating company, and Partners Group, the global private markets investment manager, announced today that they have purchased Montgomery Park, an 18-acre, 745,000-square-foot urban property in Portland’s Northwest/Slabtown district. The acquisition was part of a joint venture partnership between the two firms, in which Partners Group has invested on behalf of its clients. In December 2018, Unico and Partners Group also purchased the Galleria, a 5-story, 195,000-square-foot office building over street-level retail in the heart of downtown Portland. Both properties were acquired from the Bill Naito Company.

The Montgomery Park site consists of a 9-story, 745,000-square-foot office building, which was originally constructed in 1921 as Montgomery Ward’s department store. The site also contains a 335,000-square-foot historic warehouse and a 3-acre development site capable of accommodating more than 800,000 square feet of new development.

The Montgomery Park office building is currently 94 percent leased to high-profile tenants including Adidas, Daimler Trucks North America, WebMD, OnPoint Community Credit Union, Wells Fargo, and Kaiser Permanente.  The property features a full height, 9-story glass atrium at the center of an 84,000-square-foot “U” shaped floor plate.

Unico and Partners Group plan to make significant capital investments to reposition, redevelop and develop the site, transforming it into a preeminent urban campus and bringing a first-class, amenity-rich tenant experience to the property.

“Purchasing one of Portland’s landmark office properties in the Northwest district presents a unique opportunity to build and shape a premier neighborhood,” said Brian Pearce, Unico Properties Executive Vice President of Real Estate Services. “With Montgomery Park’s size and scale, its abundance of development options and our vision to deliver unrivaled amenities, our goal is to help evolve this industrial district into a vibrant extension of Slabtown and ultimately, a live-work-play neighborhood.”

The Northwest district is primed for responsible development and growth with the recent sale of the adjacent, 22-acre ESCO property to a group of prominent Portland real estate investors, the new 60,000-square-foot Redfox Commons creative office development, and the City of Portland pursuing the expansion of the Streetcar to the Northwest.

Separately acquired by Unico and Partners Group in December 2018, the 5-story, 195,000-square-foot Galleria office building in downtown Portland was built in 1910 and was originally known as the Olds, Wortman & King department store. Spanning a full city block directly on the MAX transit line at SW 9th & Morrison, the Galleria is located in the West End, a vibrant and emerging downtown neighborhood that brings energy to the urban core.

The Galleria is currently 46 percent leased to an 89,000-square-foot “City Target” store, with 106,000-square-feet of available office space on the upper floors. Unico and Partners Group plan to make significant capital investments to transform the existing office space, and bring a sophisticated tenant experience to the building with a new lobby and new common area amenities.

“We are very pleased to have expanded our relationship with Unico to acquire these high-quality office buildings which will appeal to a broad range of tenants looking for best-in-class creative office space in Portland,” said Marcus Day, Partners Group’s Senior Vice President of Private Real Estate Americas.

Partners Group’s Co-Head Private Real Estate Americas, Fabian Neuenschwander, added: “These recent Portland acquisitions reflect our investment strategy of acquiring real estate assets with significant value-add potential and optionality. Both of these assets offer an attractive combination of income and growth from further lease up and potential development and the ability to create value through proactive asset management.”

“We could not be more pleased to complete this transaction with Unico and Partners Group because they absolutely support our vision for the property. With abundant redevelopment potential, the planned Streetcar expansion and the right development partners, the property has tremendous potential to bring great vibrancy to the area,” said Diane McMahon, CEO of the Bill Naito Company.  “Portland has always attracted bold thinkers and its success has been defined by them. This transaction is a catalyst that will support the next chapter of our own bold future at The Bill Naito Company.”

The brokers who represented the seller in both acquisitions are Graham Taylor and Charles Safley of CBRE. Acquisition financing was arranged by Nick Santangelo, also from CBRE.

“It will be exciting to watch this property continue to transform and add to the already booming NW Portland,” said Charles Safley, CBRE Portland.

Hits: 6

Categories: News

Tags:

artners Group leads Ascent Real Estate Investors and Sigma Delta Partners Investment-fronted consortium to acquire Beijing’s Dinghao Plaza

Partners Group

Partners Group, the global private markets investment manager, has acquired a majority equity stake in Dinghao Plaza, a large mixed-use office and retail complex in Beijing, on behalf of its clients. The firm has partnered with a consortium including Ascent Real Estate Investors, Sigma Delta Partners Investment and the Family Office Company in the off-market acquisition, which had a total transaction value of USD 1.34 billion.

Dinghao Plaza is a 176,976 square meter mixed-use building complex situated in the heart of Beijing’s ZGC area, known as the ‘Silicon Valley of China’, with direct underground access to the ZGC metro station. Constructed in 2003, the property currently contains a large retail podium and two office towers. It offers a value creation proposition that is focused on repositioning under-used retail space for office use and undertaking a large-scale refurbishment of the existing office towers to bring them to Grade A standard.

Rahul Ghai, Managing Director, Private Real Estate Asia, Partners Group, states: “Dinghao Plaza is ideally located in ZGC, Beijing’s vibrant tech and media area, where demand for large, contiguous, and premium office space is high and supported by the strong growth of China’s technological sector. The acquisition of Dinghao Plaza is a great fit with our longstanding ‘buy, fix and sell’ strategy, whereby we seek out properties in prime locations that can benefit from repositioning with sufficient time and capital. Together with our consortium partners, we plan to undertake a multi-year value creation program which will transform Dinghao Plaza into a core real estate asset.”

Hits: 8

Categories: News

Tags: