Hong Kong-based real estate private equity firm Gaw Capital Partners has acquired 32 residential buildings in prime Tokyo locations and other major Japanese cities on behalf of Qatar's sovereign wealth fund.
The investment, for an undisclosed amount, was made via Gaw Capital Partner's separately managed account held by the Qatar Investment Authority (QIA).
According to Gaw Capital, the seed portfolio consists of a total of 32 assets, including 21 assets in Tokyo, three assets in Nagoya, five assets in Osaka, one asset in Kyoto, one asset in Yokohama and one asset in Sapporo.
The total GFA of this residential portfolio is 68,432 sqm, the private equity firm said in its website.
Gaw Capital’s total assets under management as on Q4 2021 stood at $34.1 billion, and it plans to acquire more residential assets across Japan.
“We are delighted to have the opportunity to partner with QIA to create this multi-family portfolio and will further acquire high-quality residential assets across major cities in Japan. We look forward to exploring further opportunities across various property sectors and generate favorable returns for this partnership.” Christina Gaw, Managing Principal and Global Head of Capital Markets, Co-Chair of Alternative Investments at Gaw Capital Partners, said.
Reports suggest that the $450 billion QIA is now focused on diversifying and investing in Asia after years of investments in Europe.
QIA participated in a $700 million funding round for India's on-demand food delivery platform, Swiggy, and plans to set up an office in the country. It is building a regional hub in Singapore to foster its Asia investments, Bloomberg reported.
Gaw Capital owns and manages 14 Taikoo Wan Road, 12 Taikoo Wan Road and 625 King’s Road in Hong Kong’s Island East district. It has also purchased 29 local Hong Kong shopping malls from Link REIT via funds under its management.
Gaw Capital has also developed a big logistics platform and premium outlet mall portfolio in China, according to its website.
(Reporting by Seban Scaria; editing by Daniel Luiz)