Taeyoung Construction. (photo = Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] Taeyoung Construction announced on the 3rd that it has sold its Yeouido building in Seoul to TY First Corporate Restructuring Real Estate Investment Trust (CR REITs).

TY First CR REITs, established by D&D Investment, a subsidiary of SK D&D specializing in asset management, was created specifically for the acquisition of the Taeyoung building. The sale amount is 225.15 billion KRW.

Earlier, in July, D&D Investment was selected as the preferred negotiator for acquiring the Taeyoung building.

The building, used by Taeyoung Holdings and Taeyoung Construction, is a 13-story structure with 5 basement levels, encompassing a total floor area of 41,858 square meters. Taeyoung Construction has been pursuing the sale of its headquarters as part of a self-rescue plan related to its workout process.

Taeyoung Construction stated that the purpose of the disposal is to "secure liquidity through asset sales."

 

 

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