Shinhan Real Estate Investment Trust (REIT) has been selected as the preferred negotiator for BNK Digital Tower (formerly Platinum Tower) in Gangnam.
On the 20th, according to the investment banking (IB) industry, BNK Asset Management selected Shinhan Alpha REIT as the preferred negotiator for the sale of BNK Digital Tower. This building is expected to be included in Shinhan Alpha REIT, which is managed by Shinhan Real Estate Investment Trust.
In the bidding that was held on the 13th, participants included Shinhan Real Estate Investment Trust, Koramco Asset Management, Kyobo AIM Asset Management, and Hanwha Asset Management. It is reported that Shinhan Real Estate Investment Trust offered approximately 40 million won per 3.3 square meters.
BNK Digital Tower, located at 398 Seocho-daero, Seocho District, Seoul, is a large office building with 7 basement floors and 20 above-ground floors, covering a total area of 37,182 square meters. It is close to Gangnam Station on Line 2 and the Shinbundang Line.
Affiliates of BNK Financial Group acquired this building for approximately 350 billion won through the 'BNK Gangnam Core Office Private Real Estate Trust' in 2020. BNK Financial has used this building as a major base in Seoul alongside the BNK Financial Tower in Yeouido and the Geumsig Building near City Hall. BNK Financial is believed to have decided to sell it ahead of the fund's maturity this December.