BNK Asset Management will acquire the office 'Emart Tower' near Seoul Station.
According to investment bank (IB) industry sources on the 27th, NH Amundi Asset Management has selected BNK Asset Management as the preferred bidder for the sale of Emart Tower. BNK Asset Management, a subsidiary of BNK Financial Group, participated in this acquisition under the support of the group. The sale is being managed by GenstarMate and Cushman & Wakefield Korea.
Previously, NH Amundi Asset Management, the seller of Emart Tower, acquired this asset from ARA Korea Asset Management for 252 billion won in 2020 and is now seeking to sell it after five years. In the bidding for Emart Tower held on the 21st, bidders included BNK Asset Management, NH Reits Management, Kiwoom Asset Management, and KB Real Estate Trust.
Located at 37 Sejong-daero 7-gil, Jung-gu, Seoul, Emart Tower is a prime office building with 6 underground floors and 19 above-ground floors, covering approximately 34,173 square meters. Emart Tower is within walking distance of major subway stations such as Seoul Station (Subway Line 1 and 4, GTX-A), City Hall Station (Subway Line 1 and 2), and Chungjeongno Station (Subway Line 2 and 5). The domestic retail giant Emart is leasing about 98.6% of the total area.