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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] Koramco REITs Management and Trust announced on the 30th that it successfully completed the sale of Samsung Fire & Marine's Seocho office building, 'The Asset Gangnam,' after receiving the final payment from Samsung SRA Asset Management.
The sale price was 1.1042 trillion KRW, making it the largest commercial real estate transaction this year. This figure significantly exceeded the industry’s initial estimate of around 40 million KRW per 3.3 square meters at the outset of the sale.
The Seocho office building, which spans a total floor area of 81,117 square meters, was acquired by Koramco in 2018 through the establishment of the KOCREF 43 REIT from Samsung C&T. With this transaction, Koramco is set to gain approximately 276 billion KRW in profit from the sale and will distribute 398 billion KRW to its investors.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
