GE Real Estate Taps Taiwan With $20M Buy

TAIPEI, TAIWAN-In a deal that marks its first entry into the expanding Taiwan market, GE Real Estate has purchased a 12-story, 45,000-sf commercial building. The asset was secured for $20 million from Hocheng Corp., a leading sanitary ware manufacturer that opted to harvest the asset’s equity amidst a surge of cross-border capital.

“This acquisition reaffirms GE Real Estate’s commitment to the continuing expansion of our portfolio through investments in office buildings and other properties across the Asia Pacific region,” says GE Real Estate principal Michael Rii in a release announcing the purchase. Rii adds that the firm plans to enhance the value through a series of capital improvements and professional management applications. Known as the HCH Building, the prominent structure is situated in the Dunhua Business District in northern Taipei.