Christie Ou
The Hong Kong-based real estate firm is understood to have raised half of the target for Gaw Growth Equity Fund I, which was launched last year.
The firm acquired a five-star hotel in Sydney from Chinese developer Greenland last month for around 30% below replacement value.
Blackstone is in talks to buy the building from Disney-owned Lucasfilm, as part of its strategy to invest in suburban business parks.
Despite growing competition, logistics continues to be a dominant theme in the region’s most-honored investment and fundraising activities.
Fundraising by recognized real estate managers and proptech specialists alike is increasing and the proliferation of SPACS should aid their cause.
The firm will expand its capital solutions offerings with a plan to make up to 40 new hires in the next 12 to 36 months across regions.
The firm aims to increase its allocation to the region to 40 percent of its overall property portfolio, level with its US exposure.
The firm attracted 30% of Fund IV’s capital during the pandemic because of the vehicle’s untapped dry powder and focus on the region.
If the walls of the David Jones building could talk, they might boast of the competition to buy them, a rarity in the world of physical retail these days
The firm paused making new investments in the first half of 2020 but restarted in H2, including setting up a dedicated vehicle in a new market.
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