Hyundai Securities

[Alpha Biz= Reporter Kim Sangjin] KORAMCO Asset Trust, through its subsidiary KORAMCO Professional Investment Private, is set to sell the Hyundai Securities Building located in Yeouido, Seoul. The anticipated sale price is around 300 billion KRW.

According to investment banking sources on the 20th, KORAMCO Asset Management has recently sent out a Request for Proposal (RFP) to major real estate advisory firms for the building's sale.

The Hyundai Securities Building is a six-story underground and 20-story above-ground office structure located at 28, Gukjegeumyung-ro 2-gil, Yeongdeungpo-gu, Seoul, with a total floor area of approximately 40,439.67 square meters. Tenants include Hyundai Securities and others.

KORAMCO purchased the building from KB Asset Management in 2020 for about 266.6 billion KRW. Although the fund holding the property is set to mature in October next year, KORAMCO has decided to put the asset on the market earlier than expected.

 

 

 

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