(Photo= Yonhap news)

[Alpha Biz= Reporter Kim Sangjin] According to financial industry sources on the 16th, KORAMCO Asset Trust has sent a Memorandum of Understanding (MOU) to Samsung SRA Asset Management to select the preferred negotiator for the sale of 'The Asset Gangnam,' located in Seocho-dong, Seoul.

If Samsung SRA Asset Management provides the earnest money, they will be finalized as the preferred negotiator for the sale.

The Asset Gangnam, currently leased by Samsung Fire & Marine Insurance as its headquarters in Samsung Town Building B, is a property purchased by KORAMCO Trust as a real estate investment trust (REIT) from Samsung C&T for 748.4 billion won in 2018.

Samsung SRA Asset Management has reportedly proposed an acquisition price of approximately 1.1 trillion won. If the sale goes through, KORAMCO Trust is expected to profit over 300 billion won from the transaction.

Located in the heart of Gangnam Business District (GBD) in Seoul, The Asset Gangnam spans from basement levels 7 to 32, with a total floor area of 81,117 square meters (approximately 24,538 pyeong).

It corresponds to Building B within Samsung Town A~C in Seocho-dong, offering excellent accessibility connected to Gangnam Station where Subway Line 2 and Shinbundang Line intersect.

 

 

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