7 February 2025, Tokyo - Real estate private equity firm Patience Capital Group (PCG) in a joint venture with GAW Capital Partners today announced that the firm, through a fund under its management and investment from co-investors, has acquired and will manage prime retail asset "Tokyu Plaza Ginza" in Ginza 5-chrome, Tokyo, Japan. PCG’s connections with local developers were key in sourcing and helping put together this deal. PCG holds 9% of this venture while GAW Capital Partners holds the other 91%. 

Completed in 2016, Tokyo Plaza Ginza has a gross floor area of 15,153 tsubo (50,093 sqm). It has direct access to Ginza Station and is a short walk from JR Yurakucho Station. The mall is surrounded by flagship stores of luxury brands, renowned department stores and upscale hotels, in the heart of one of Tokyo's most prestigious shopping districts. The asset is one of the largest and rarest retail facilities in Ginza, occupying a high-street footprint of over 1,139 tsubo and spanning an entire block with four-sided frontage. Its unparalleled location offers exceptional accessibility and prestige.  

Given strong tourist demand after Covid coupled with yen depreciation, Tokyo retail sales volumes have continued to outperform. This was fueled by robust spending on luxury goods. Domestic consumption is also set to benefit from the positive wage growth outlook. The government’s planned revitalisation of the adjacent Tokyo Expressway (KK Line) into a green pedestrian walk known as the Tokyo Sky Corridor (High Line) - which is scheduled to partially open in 2029, will further direct footfall towards Tokyu Plaza Ginza, and enhance its potential value.  

Ken Chan, Founder and CEO, Patience Capital Group said, “PCG’s long-held relationships with developers in Japan gives us unique access to off-market opportunities such as this one. Our retail experience and track record of working with brands to craft the ideal tenant mix coupled with the Japanese retail sector’s resilient demand will help us set Tokyu Plaza Ginza up for success. We look forward to working closely with GAW Capital to unlock the potential of this exceptional asset.”