Real estate private equity firm Gaw Capital Partners, together with its consortium partner QuadReal Property Group, have acquired a Grade-A office building in Shanghai. Ocean Towers is a 25-storey building located at 550 East Yan’an Road in People’s Square, within the Huangpu district.

The building has a gross floor area of 540,552 sq ft and 185 car parking spaces. The property is in a prime position beside Shanghai’s commercial centre along Nanjing East Road, and is it served by an extensive transport system and road infrastructure. Ocean Towers has unobstructed views of the Bund and Little Lujiazui.

Gaw Capital has over 13 years of experience investing in, and turning around commercial properties in China. The fund specialises in adding strategic value to under-utilised real estae through redesign and repositioning. As of 2Q2018 its assets under management were worth US$18.3 billion, and its portfolio includes 133 Wai Yip Street in Hong Kong, Pacific Century Place in Beijing, Cross tower in shanghai, and Metropolitan Plaza in Gunagzhou. It has five commingled funds targeting Greater China and APAC regions.