Announced
Financials
Sources
Tags
Acquisition
Domestic
South Korea
commercial real estate
Real Estate Holding and Development
Majority
Private
Real Estate
Completed
Friendly
Single Bidder
Synopsis
KB Asset Management, an investment company, completed the acquisition of Samsung SDS Tower in Seoul from Ryukyung PSG Asset Management, an investment management company, for $630m. Located in Seoul’s Jamsil neighbourhood approximately 7km (4.3 miles) east of the Gangnam business district, the Samsung SDS Tower has 30 above-ground and seven basement floors, with 99.5k m2 of floor area situated on a 7.7k m2 lot. The building is adjacent to the headquarters of local e-commerce giant Coupang and is a five-minute walk from Jamsil metro station, which is served by subway lines 2 and 8.
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