Mirae Asset Daewoo said on April 18 that it has invested $243 million in mezzanine debt for Goldin Financial Global Centre in eastern Kowloon Bay, Hong Kong.
Courtesy of Goldin Financial Global Centre
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Singapore’s sovereign wealth fund GIC and Deutsche Bank have also joined the mezzanine financing for the grade A commercial office building.
The 27-story landmark building with 900,000 square feet gross floor area is owned by Goldin Financial Holdings Chairman Pan Sutong. It is located at the Kowloon East waterfront, an emerging central business district of Hong Kong.
Since the building opened in October 2016 with a fair value of HK$12.5 billion ($1.6 billion), the fair value rose by HK$2.3 billion in 2017 and HK$1.9 billion in 2018.
This is the second real estate investment of Mirae Asset Daewoo in Hong Kong. In April last year, it invested some $300 million in senior debt to finance the $5.2 billion acquisition of skyscraper The Center.
By Son Ji-hyoung (firstname.lastname@example.org)