The sale of the 'CenterPoint Gwanghwamun' building, where Kim & Chang Law Office is located, is expected to be actively pursued.
On the 27th, according to the investment banking (IB) sector, Koramco REITs Management and Trust selected a consortium of Deloitte Anjin and R Square as the lead managers for the sale of CenterPoint Gwanghwamun. Previously, Koramco REITs Management and Trust sent a request for proposal (RFP) to major advisory firms on the 20th of last month, and notified the final decision the day before, on the afternoon of the 26th.
Completed in August 2013, CenterPoint Gwanghwamun is a prime-grade office building with seven basement floors and 20 above-ground floors, covering a total floor area of 39,946 square meters. The price per 3.3 square meters is in the mid-30 million won range, and the overall price of the building is expected to be in the mid-400 billion won. It is located in the central business district (CBD) of Seoul, near Gwanghwamun Station on Subway Line 5 and Gyeongbokgung Station on Line 3, with tenants including Kim & Chang.
Koramco REITs Management and Trust holds CenterPoint Gwanghwamun through the 'Kokrep No. 36 entrusted management real estate investment company (Kokrep No. 36 REITs).' Shareholders include the Government Employee Pension Service, KT&G, and the Korea Tobacco and Ginseng Corporation. Ssangyong Engineering & Construction built the building, which was acquired by Maston Investment Management for 214 billion won before its completion in 2012. Koramco REITs Management and Trust acquired this building from Maston Investment Management in 2016 for approximately 320 billion won.