DL E&C Donuimun D Tower headquarters building. (Photo = DL E&C)

 

[Alpha Biz= Reporter Kim Sangjin] According to the investment banking (IB) industry on the 23rd, Marston Investment Management conducted the bidding for the sale of D Tower Donuimun. Six bidders, including NH REITs Management and Aegis Asset Management, participated in the auction. The sale’s lead managers are CBRE Korea, Deloitte Anjin, and Colliers Korea.

D Tower Donuimun is a highly sought-after asset in the domestic commercial office market. It is located in the central business district (CBD) of Seoul and is praised for its excellent accessibility, being adjacent to the Dongnimmun Station on Subway Line 5.

The expected transaction price for the asset is approximately 900 billion won. The building consists of 7 underground floors and 26 above-ground floors, with a total floor area of about 86,000 square meters.

Given the anticipated large-scale procurement costs, potential buyers have been actively preparing their funding plans.

NH REITs Management participated in this auction with full support from the NH Financial Group. Although there are institutions like the National Agricultural Cooperative Federation (NACF) and NH Nonghyup Bank headquarters near Dongnimmun Station, it is reported that office space in the area is already in short supply.

The IB industry views NH Financial Group’s pursuit of acquiring D Tower Donuimun as part of their plan to transform the Dongnimmun area into NH Nonghyup Town.

 

 

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