Gaw Capital-Led Group to Refinance Loan Used to Buy HK Tower
- Three-year facility refinances Cityplaza One acquisition loan
- Gaw sought to purchase full stake of other Cityplaza towers
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A consortium of investors led by Hong Kong-based fund manager Gaw Capital Partners is seeking a HK$5.4 billion ($694 million) loan to refinance the debt used to back the acquisition of Cityplaza One office tower.
Sponsors of the consortium — including Gateway Real Estate Fund VI Ltd., the real estate fund managed by Gaw Capital — have appointed banks to arrange the three-year financing, which is split into a HK$5 billion term loan and HK$410 million revolving credit facility, according to a person familiar with the matter, who asked not to be named discussing a private matter.