The former POSCO Engineering headquarters, located in the Bundang Dodam Building in Seongnam, Gyeonggi Province, is accelerating its sale.
According to investment banking (IB) industry sources on the 10th, Marston Investment Management recently selected Kyobo Realco, a comprehensive real estate asset management company, and Deloitte Anjin, an accounting firm, as the joint brokers for the sale of Dodam Building.
Dodam Building is an office building located at 9-3 Sunnae-dong, Bundang-gu, Seongnam, Gyeonggi Province. It has 4 basement levels and 14 above-ground levels, with a total floor area of 35,820 square meters. It is structured to yield stable rental income, and it is known that competition for bids among consulting firms has been fierce.
Completed in August 1997, Dodam Building has been used as the headquarters of POSCO Engineering. In 2014, the company moved its headquarters to Songdo International Business District in Incheon, and in 2015, NS Partners purchased Dodam Building for 68.5 billion won. Subsequently, NS Partners conducted renovations and sold it to Marston Investment Management in 2020 for over 100 billion won.
An IB industry insider noted, "Recently, KT&G sold Bundang Tower for about 124 billion won in the Bundang area (BBD), one of the major office regions in the country," adding, "Dodam Building in the same area is evaluated to be relatively new due to renovations."