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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CapMan Nordic Property Income Fund (non-UCITS) acquires a mixed-use industrial property in Copenhagen

CapMan Nordic Property Income Fund (non-UCITS), has acquired Stamholmen 70, a light production and office property, in a sale and lease back transaction.

The approx. 14,000 sqm property is situated in Avedøre Holme, a mixed industrial and commuter suburb to Copenhagen. The property is fully let with a long lease agreement to the seller Intermail A/S, a Danish publicly listed communications company. The property is located close to the E20 highway, which provides easy access to Kastrup Airport and Copenhagen city centre.

“The Danish market provides many opportunities in line with CapMan Nordic Property Income fund’s cash flow focused investment strategy. We are very pleased with this acquisition and the continued co-operation with Intermail. The flexible layout of the property combined with its logistics capabilities are attractive for potential future tenants. The excellent location and good income outlook make it a perfect fit for the CapMan Nordic Property Income fund,” says Sampsa Apajalahti, Investment Director and Fund Director of CapMan Nordic Property Income Fund.

CapMan Nordic Property Income Fund (non-UCITS) is an open-ended special investment fund which accepts new subscriptions on a quarterly basis. The Fund focuses on stable income generating properties in the largest and most liquid Nordic cities with solid long-term growth fundamentals. CMNPI fund targets mainly offices and necessity-driven retail assets. In addition, the fund will also invest in other real estate sectors providing stable and predictable income. The acquisition of Stamholmen 70 is the fund’s fifth transaction and its second in Denmark.

CapMan Real Estate has a team consisting of over 30 real estate professionals in Helsinki, Stockholm and Copenhagen. CapMan Real Estate was established in 2005 and it currently has over EUR 1.7 billion of assets under management deploying four different investment strategies.

For further information, please contact:
Sampsa Apajalahti, Investment Director, Fund Director, CapMan Real Estate, tel. +358 40 575 2363
Peter Gill, Investment Director, CapMan Real Estate, tel. +45 20 43 55 63

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 €2.8 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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Gaw Capital Partners and Consortium Partners Win Bid to Acquire 12 Shopping Centers in Hong Kong

Gaw Capital

December 12, 2018, Hong Kong – Gaw Capital Partners today announced that the firm, through a fund under its management, and consortium partners, including Goldman Sachs, have won a bid to acquire a retail portfolio comprising 12 shopping centers in Hong Kong from Link Asset Management Limited at HK$ 12.01 billion and an average price of around HK$7,839 per sq. ft. excluding parking.

The portfolio is comprised of a number of strategically-located properties across Hong Kong Island, Kowloon and the New Territories that sit in the heart of densely-populated communities. The GFA of the portfolio totals 1.1 million sq. ft. of prime retail space and comes with over 4,700 parking spaces that are connected to highly-convenient transport links. Their excellent accessibility and holistic shopping environments have made them attractive destinations for retailers and hubs of community life for residents.

The shopping centers included in the portfolio are: Retail and Car Park within Ap Lei Chau Estate, Chun Shek Shopping Centre, Fortune Shopping Centre, King Lam Shopping Centre, Lei Tung Commercial Centre, Ming Tak Shopping Centre, Shan King Commercial Centre, Siu Hei Commercial Centre, Retail and Car Park within Tai Ping Estate, Wah Ming Shopping Centre, Wah Sum Shopping Centre, Wang Tau Hom (Wang Fai Centre).

Goodwin Gaw, Chairman and Managing Principal of Gaw Capital Partners, said, “We and our partners are confident about Hong Kong’s future, and believe these malls will continue to serve important functions in the community. Followed by the bid we won together with our consortium partners to acquire 17 shopping malls in 2017, we will further leverage our experience to evolve these malls into refreshed and renewed centers of local life and collaborate with the local NGOs and existing tenants to build a better neighborhood for themselves.”

Kenneth Gaw, President and Managing Principal of Gaw Capital Partners, commented, “We worked closely with the community over the past 12 months and implemented a series of initiatives to better make use of these malls for the community. We look forward to applying our expertise in repositioning commercial property to add significant strategic value to this additional portfolio.”

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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TMG Partners and KKR Acquire 1221 City Center in Downtown Oakland

KKR

TMG and KKR partner on second Oakland-based transaction in 2018

SAN FRANCISCO/OAKLAND, Calif. & NEW YORK–(BUSINESS WIRE)–Dec. 3, 2018– TMG Partners, one of the Bay Area’s largest mixed-use property developers, and KKR, a leading global investment firm, announced today the purchase of 1221 City Center in Downtown Oakland, California. The purchase is the second transaction by TMG and KKR in Oakland this year, following the purchase of 1330 Broadway in Oakland in July.

This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20181203005485/en/

 1221 City Center (Photo courtesy of TMG Partners)1221 City Center (Photo courtesy of TMG Partners)

The project is a 24-story, 522,000-square-foot office building and is located at the intersection of Broadway and 12th Street. The building is one of three in the Bay Area that enjoys access to BART via a direct entrance to the 12thStreet Station through the building lobby.

“We expect that the Oakland office market will continue its positive trajectory because of strong tenant demand and extremely limited supply,” said TMG’s Director of Development David Cropper. “We look forward to broadening our partnership with KKR in the future.”

“We are excited to partner with TMG for our second Oakland-based transaction this year, which will be KKR’s third investment in Oakland since 2017. We believe Oakland has attractive long-term secular growth trends driven by its accessibility to transit, a growing retail amenity base, and a meaningful amount of residential development,” said Justin Pattner, Head of Real Estate Equity in the Americas at KKR. “1221 City Center is an iconic property in the Oaklandskyline, and we look forward to the next phase of its business plan.”

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

1221 City Center is 99% leased. Existing tenants include Clorox, Union Bank, Stanford Health Care, Wells Fargo Bank and Parsons Brinkerhoff.

The building has previously achieved a LEED Platinum rating by the US Green Building Council and features panoramic Oakland skyline and Bay views, onsite retail amenities and ample parking, as well as bike lockers and showers.

TMG, which recently celebrated its 33 1/3 anniversary, has been increasingly active in the Oakland office market. The purchase of 1221 City Center represents TMG’s fourth transaction in Oakland. 1330 Broadway was TMG’s first Oaklandredevelopment. Last year, the firm also acquired 2201 Broadway, an eight-story 198,000-square-foot office building in Uptown Oakland. Currently, the firm is also entitling an approximately 750,000-square-foot office and retail tower at the intersection of Grand Avenue and Telegraph Avenue.

About TMG Partners

TMG Partners, founded in 1984 and headquartered in San Francisco, is a full-service real estate development and management company. TMG has developed more than 25 million square feet of property throughout the San Francisco Bay Area, including San Francisco, San Jose, Oakland, Palo Alto, San Bruno, Emeryville, and Marin City. One of the most active developers in this area, the company has developed a variety of office, retail, residential and industrial properties, ranging from office campus and multi-story properties in urban, infill locations to mixed-use retail and single-story suburban buildings. For detailed information, visit www.tmgpartners.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.

Source: KKR

MEDIA:
TMG Partners: Julie Chase
jchase@jchasepr.com
415.710.7108

KKR: Kristi Huller or Samantha Norquist
Phone: 212-750-8300
media@kkr.com

 

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H.I.G. Capital Invests in Wellness Hotel in Germany

HIG Capital

LONDON – November 30, 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 an investment in BollAnts Spa im Park, a 105-room wellness hotel & resort in Bad Sobernheim, Germany. BollAnts Spa im Park is one of the leading wellness resorts in Germany and has earned many awards including, most recently, the prestigious Tatler award for one of the best spas in the world (2018). Terms were not disclosed.

H.I.G. Realty continues to add to its sizeable 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 German real estate market represents a key part of our European value-add strategy and we continue to actively look at opportunities in the small/midcap sector across the capital structure”.

Sanjoy Chattopadhyay, Managing Director at H.I.G. Europe Realty Partners in London, added: “The transaction demonstrates our ability to leverage our strong network and track record to acquire high-quality assets with significant value-add potential. The fundamentals of the German wellness industry are attractive, and we look forward to pursuing further similar investments”.

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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Gaw Capital Partners and Consortium Partners Acquire Ocean Towers in Shanghai

Gaw Capital

 

November 29, 2018, Shanghai – Real estate private equity firm Gaw Capital Partners announced that the firm, through a fund under its management together with consortium partners including QuadReal Property Group, have acquired Ocean Towers, a 25-storey Grade A office building strategically located in People’s Square, Shanghai, the heart of the city and its political and cultural center.

With 50,219 sqm (540,552 sq. ft.) of above-ground titled GFA and 185 car parking spaces, Ocean Towers enjoys strong exposure to customer traffic and excellent accessibility. Located at 550 East Yan’An Road, Ocean Towers is in the heart of Huangpu District. It is next to Nanjing East Road, Shanghai’s most popular pedestrian street and traditional commercial center, where tenants can enjoy easy access to the existing comprehensive transportation system and road infrastructure. Its prime position also offers excellent access to Shanghai’s busiest commercial and entertainment districts. It is within a five-minute drive to Nanjing West Road CBD, Xintiandi, Lujiazui and the Bund as well as being in close proximity to well-established commercial amenities such as Raffles City, Shimao Bailian, JW Marriot Tomorrow Square, Westin and Nanjing East Road Pedestrian Street.

The property is well-served by public transport as both People’s Square Station (Metro Lines 1, 2 and 8) and Dashijie Station (Metro Line 8 and the future Metro Line 14 to be completed by 2020) can be reached by foot in five to eight minutes. The property also enjoys spectacular, unobstructed views of the Bund and Little Lujiazui from its top floors which allows the possibility of better rental returns.

By leveraging its prime location and its views of the Huangpu River, Lujiazui and other major CBDs in Puxi, Gaw Capital believes there is great potential for Ocean Towers to further enhance its occupancy rate and advertisement income.

Humbert Pang, Managing Principal and Head of China for Gaw Capital Partners said: “Gaw Capital and our partners are confident about Shanghai’s property market, which has continued on an upward trajectory despite the uncertain external economic environment. Shanghai’s economic development has surpassed all other cities in China with 6.9% growth in GDP. Shanghai remains China’s top gateway city for both multinational corporations and domestic companies, with Shanghai’s CBD Grade A offices continuing to demonstrate a strong leasing momentum. Ocean Towers is ideal for tenants looking for high quality Grade A office space in the Huangpu District in Shanghai.”

He added, “We hope to leverage our experience in redesign and re-positioning to enhance asset value and attract new tenants. In addition, we will reposition and upgrade the tenant mix to add significant, strategic value to the Grade A building.”

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; 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 sf.ft.) retail mall connected to the Guangzhou East Rail 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 above on two subway lines.
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$ 9.8 billion since 2005 and commands assets of USD$ 18.3 billion under management as of Q2 2018.

About QuadReal Property Group (www.quadreal.com)
Headquartered in Vancouver, British Columbia, QuadReal Property Group is a Canadian real estate investment, development and management company operating on a global scale. The company’s CAD $24.5 billion portfolio spans 23 global cities across 17 countries. Owned by bcIMC, one of Canada’s largest institutional investors, QuadReal was established to manage its real estate investment portfolio. QuadReal aims to deliver prudent growth and strong investment returns, and to create and sustain environments that bring value to the people and communities it serves.

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