HK group to buy Seattle's Columbia Center: report
A GROUP led by Gaw Capital Partners has agreed to buy Columbia Center, Seattle's tallest tower, for more than US$700 million, said two people with knowledge of the deal. The price would be a record for an individual office building in the city.
Gaw Capital, the Hong Kong-based property investment company led by Goodwin Gaw, is joining with other Asian investors to buy the 76-storey building, said the people, who asked not to be identified because the sale is private.
The seller is Boston-based Beacon Capital Partners, which in 2007 paid US$621 million for the tower, at the time the highest price paid for a single Seattle office building, according to property-research firm Real Capital Analytics. Columbia Center is the second-tallest US building west of Chicago, after US Bank Tower in downtown Los Angeles. Brokerage Eastdil Secured LLC is representing Beacon in the sale.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Australia’s housing rent hits record high in headache for RBA
Airbnb promises to combat sex work in rentals during Paris Olympics
Hong Kong property deals hit three-year high in April
More homes planned in Media Circle to support housing demand
Qatari Sheikh sells London mansion to fellow royal for £39 million
Toronto home sales fall for third month in April; prices rise