Baker McKenzie advised Gaw Capital Partners (“Gaw Capital”) and a consortium of institutional investors, including Schroder Pamfleet, on the HKD 9.845 billion acquisition of CityPlaza One office building from Swire Pacific and Swire Properties.
This acquisition of the 21-storey Grade A office tower further expands Gaw Capital's asset holdings in Hong Kong's Eastern District, after purchasing portions of CityPlaza Three and Cityplaza Four in 2018, and 625 King's Road in 2019.
Baker McKenzie, which also acted in the earlier acquisitions of CityPlaza Three, CityPlaza Four and 625 King’s Road, fielded a cross-practice team for the CityPlaza One transaction. The team was led by M&A/PE partners Tracy Wut and Derek Poon, with support from associates Coody Yuen, Cynthia Or and trainee solicitor Curtis Tse. The team also included property partners Debbie Cheung and Shiu Man Wan, and special counsel Serena Chan, as well as banking partner Simon Leung and special counsel Gerry Wong.
This deal also adds to the long list of transactions on which the Firm has advised Gaw Capital, including, raising USD 1.3 billion for its Internet Data Center (IDC) platform in China; the successful closing of its sixth Asia Pacific flagship real estate fund, Gateway Real Estate Fund VI; and the acquisition of the DUO Tower and DUO Galleria in Singapore.