(Photo= Yonhap news)

[Alpha Biz= Reporter Kim Sangjin] On August 28, it was reported that the NH Investment & Securities-Samsung Securities and SK Securities consortium successfully arranged and secured a ₩9 billion project financing (PF) for the development of the Mega Mart site previously owned by Busan City Gas. The financing was allocated to Cube Gwangan PFV, the development operator.

The PF involves 23 lenders and is structured into tranches: A ₩6 billion, B ₩2 billion, and C ₩1 billion, with a loan term of 54 months, ending in February 2029. Daewoo Construction is responsible for the completion and any non-compliance guarantees.

The development site is located in the Namcheon-dong area of Suyeong District, Busan. The project will feature five buildings with a total of 845 residential units and commercial facilities. The development will rise from four underground floors to 39 above-ground floors.

 

 

 

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