The headquarters building of Hyundai Mobis in Yeoksam-dong, Seoul, has been put up for sale.
According to the investment banking (IB) industry on the 13th, KB Asset Management recently sent a request for proposal (RFP) to real estate consulting firms and accounting firms to sell the SI Tower it owns through the 'KB Wise Star Private Real Estate Investment Trust No. 1.'
KB Asset Management plans to receive bidding proposals until the 20th and select a consulting firm.
The SI Tower, completed in 1999, is an office asset with 8 basement floors and 24 above-ground floors, covering a total floor area of 66,085 square meters. KB Asset Management acquired it in 2009 through a fund. Kookmin Bank and Samsung Fire & Marine Insurance were among the investors. It is currently used as the headquarters by Hyundai Mobis, and Nokia and Hanmi Pharmaceutical also lease space there.
The expected sale price of the SI Tower in the market is in the mid to upper 40 million won per pyeong (3.3 square meters). It is estimated to total between 800 billion won and 900 billion won.