Partners Group invests in Kowloon East: a decentralized alternative to Hong Kong Island's premium office space
Press release
Baar-Zug, 25 April 2013
Partners Group, the global private markets investment manager, has invested in a 13-storey warehouse building located conveniently close to transport links on Hung To Road in Hong Kong's Kowloon East, on behalf of its clients.
Kowloon East, formerly a largely industrial area, is emerging as an important office sub-market, with the Hong Kong government launching an initiative to transform it into a more affordable, alternate central business district to Hong Kong Island.
Aligned with the government's strategy, Partners Group's investment will support the conversion of the warehouse building into a class A office building with a modern design and BEAM Plus rating, a green building label recognized by the Hong Kong Green Building Council. After conversion, the office building will be suitable for large occupiers from a range of industries including financial services and manufacturing, which are seeking premium office space at more affordable rents than those offered in Hong Kong Island's Central district.
Bastian Wolff, a senior investment manager at Partners Group, comments: “We are excited to invest in this property for our clients. In line with our strategy to underweight core in this current environment and target value-added opportunities, an under-utilized property such as this offers potential for value creation through active asset management. Together with Pamfleet, our local operator, we aim to reposition the property into a branded commercial building with sustainable features to capitalize on the trend for businesses to locate their middle- and back-offices to this more affordable area in Hong Kong.“
About Partners Group
Partners Group is a global private markets investment management firm with over EUR 28 billion in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Munich, Dubai, Singapore, Beijing, Seoul, Tokyo and Sydney. The firm employs over 600 people, is listed on the SIX Swiss Exchange (symbol: PGHN) with a market capitalization of over CHF 6 billion and a major ownership by its partners and employees.
Investor relations contact
Philip Sauer
Phone: +41 41 784 66 60
E-mail: [email protected]
Media relations contact
Dr. Anna Hollmann
Phone: +41 41 784 63 72
E-mail: [email protected]
www.partnersgroup.com
Press release
Baar-Zug, 25 April 2013
Partners Group, the global private markets investment manager, has invested in a 13-storey warehouse building located conveniently close to transport links on Hung To Road in Hong Kong's Kowloon East, on behalf of its clients.
Kowloon East, formerly a largely industrial area, is emerging as an important office sub-market, with the Hong Kong government launching an initiative to transform it into a more affordable, alternate central business district to Hong Kong Island.
Aligned with the government's strategy, Partners Group's investment will support the conversion of the warehouse building into a class A office building with a modern design and BEAM Plus rating, a green building label recognized by the Hong Kong Green Building Council. After conversion, the office building will be suitable for large occupiers from a range of industries including financial services and manufacturing, which are seeking premium office space at more affordable rents than those offered in Hong Kong Island's Central district.
Bastian Wolff, a senior investment manager at Partners Group, comments: “We are excited to invest in this property for our clients. In line with our strategy to underweight core in this current environment and target value-added opportunities, an under-utilized property such as this offers potential for value creation through active asset management. Together with Pamfleet, our local operator, we aim to reposition the property into a branded commercial building with sustainable features to capitalize on the trend for businesses to locate their middle- and back-offices to this more affordable area in Hong Kong.“
About Partners Group
Partners Group is a global private markets investment management firm with over EUR 28 billion in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Munich, Dubai, Singapore, Beijing, Seoul, Tokyo and Sydney. The firm employs over 600 people, is listed on the SIX Swiss Exchange (symbol: PGHN) with a market capitalization of over CHF 6 billion and a major ownership by its partners and employees.
Investor relations contact
Philip Sauer
Phone: +41 41 784 66 60
E-mail: [email protected]
Media relations contact
Dr. Anna Hollmann
Phone: +41 41 784 63 72
E-mail: [email protected]
www.partnersgroup.com