Gaw Capital Joins $1.9 Billion Swire Office Tower Deal
(Bloomberg) -- Gaw Capital Partners is in talks to join Henglilong Investments Ltd. in its HK$15 billion ($1.9 billion) acquisition of Swire Properties Ltd.’s Cityplaza Three and Cityplaza Four office buildings in Hong Kong, people with knowledge of the matter said.
The investors are currently seeking loans to finance the purchase, the people said, asking not to be identified because the information is private. The Hong Kong Economic Times reported earlier Tuesday that Gaw Capital, a Hong Kong-based private-equity firm, was joining the deal, citing unidentified people.
Swire agreed to sell its entire stakes in the two office towers in June, adding to a spate of deals in the world’s priciest office market. Two billionaire Chinese property developers earlier this year agreed to join a consortium to buy The Center from Li Ka-shing’s company for a record HK$40.2 billion.
An official at Gaw Capital and a representative for Swire Properties declined to comment. A person who answered the phone at the Hong Kong office of Henglilong, which is controlled by businessman Chen Chang-wei, said nobody was immediately available to comment.
Other people familiar with the matter said in August that Henglilong is seeking financing of HK$12 billion-equivalent in U.S. dollars to back its purchase of Swire’s stakes.
©2018 Bloomberg L.P.