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Mayer Brown JSM advises Gaw Capital Partners-led consortium on the acquisition of 17 Hong Kong shopping malls from Link REIT

30 November 2017

Mayer Brown JSM advised a consortium of firms led by Gaw Capital Partners on a bid to acquire a portfolio of 17 shopping malls in Hong Kong sold by Link Real Estate Investment Trust (“Link REIT”). The consortium agreed to purchase the properties for HK$23 billion (US$2.9 billion).

The shopping malls are located in all corners of Kowloon and the New Territories, totalling approximately 2.2 million sq. ft. of commercial space and 8,000 car parking spaces, with excellent links to MTR stations. Lions Rise Mall in Wong Tai Sin, Kwai Fong Plaza in Kwai Chung, Kai Yip Commercial Centre in Kowloon Bay, Cheung Hang Shopping Centre in Tsing Yi and Lee On Shopping Centre in Ma On Shan were some of properties included in the deal.

The sale of the properties attracted overwhelming interest from bidders in a competitive sale including renowned global and regional private equity funds, sovereign wealth funds and local investors.

Mayer Brown JSM is honored to advise the consortium led by Gaw Capital Partners on this important deal, one of the largest of its nature in Hong Kong’s real estate market.

This is the second time Mayer Brown JSM has acted on a deal between Gaw Capital Partners and Link REIT in 2017. Drawing upon its long-standing experience in real estate transactions, the firm successfully advised Gaw Capital Partners and Morgan Stanley Real Estate Fund (MSREF) in May 2017 on the RMB 4.065 billion (US$588 million) disposal of Metropolitan Plaza in Guangzhou to Link REIT.

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