Hong Kong private equity firm Gaw Capital Partners bought Waterside House on behalf of Korean institutional investors. The purchase comes at a time when there is a rising interest for international real estate holdings among Asian investors, according to a report published by The Wall Street Journal.

Waterside House is a 237,800-square foot commercial property in London. The building was designed by Richard Rogers and is occupied by British retailer Marks & Spencer, said the report.

In a statement made on Thursday, Gaw said it is the co-investor and advisor in the Waterside House transaction. The company will also become the property's asset manager, the report said.

This is Gaw's fourth London property acquisition on behalf of Asian clients, according to Christina Gaw, Head of Capital Markets at the private equity firm. In July, Gaw advised Chinese firm Ping An Insurance (Group) Co on the acquisition of Lloyd's of London building, the report stated.

Gaw Capital Partners provides global investment services to Asian institutional investors. In addition, the firm also manages four real estate funds that focus on the Greater China and Asia Pacific area, The Wall Street Journal reported.