Korea Investment Securities is acquiring Doosan Tower, an office building and landmark in Dongdaemun, Seoul.
On the 18th, according to investment banking (IB) industry sources, Mastern Investment Management selected Korea Investment Securities as the preferred negotiator for the sale of Doosan Tower, held by Mastern Real Estate Investment Trust No. 98.
Three entities participated in the previously held bidding for the sale earlier this month: IGIS Asset Management, Kiwoom Asset Management, and Korea Investment Securities. The acquisition amount proposed by Korea Investment Securities, designated as the preferred negotiator, is known to be in the early 900 billion won range.
Doosan Tower is an office building with 7 basement levels and 34 above-ground floors, with a total floor area of 122,630 square meters. Completed in 1998, it has established itself as a landmark in Dongdaemun, the largest fashion hub in the country. Currently, Doosan Group offices, Hyundai Department Store's duty-free shop, and Doota Mall are located there.
Mastern Investment Management acquired Doosan Tower from Doosan, which entered management under creditors in 2020, for 800 billion won. Doosan Tower has been considered one of the key assets in the commercial office market this year.