Real estate fractional investment platform Kasa said on the 10th that it signed a sales contract for "Seocho Gwell Tower."
Seocho Gwell Tower was Kasa's second public offering building, and at a beneficiaries' general meeting held for five days from Aug. 25, the sale plan passed with a 98.44% approval rate, initiating the sale process.
The final sale price of the building is 4.55 billion won. Investors are expected to achieve a cumulative return of about 25% compared to the offering price, including regular dividends and capital gains from the sale.
Seocho Gwell Tower was the building for which a public offering was conducted in Jul. 2021. It drew attention for its "double station area" location between Gangnam Station and Gyodae Station, as well as the favorable development of burying the Gyeongbu Expressway underground.
Kasa plans to complete the remaining sale procedures together with KOREIT. With its fifth sale, Kasa has achieved the most sales in the fractional investment industry.
Upon completing this sale, Kasa's cumulative sale total will be 51.33 billion won. This is 86.68% of the total amount raised through public offerings to date, meaning it has successfully sold most of the buildings offered.
Kasa CEO Hong Jae-geun said, "The advantage of real estate fractional investment is that even without large capital, you can invest in buildings with prime locations and gain both dividends and capital gains from sales," adding, "We will further expand investment asset so that anyone can easily and conveniently include prime buildings in their investment portfolio."
Kasa was designated as an innovative financial service by the Financial Services Commission in 2019 and has currently applied to the financial authorities for a license as an investment broker. It issues non-monetary trust beneficiary securities to provide commercial real estate investment opportunities. Investors can easily participate in investments with small amounts through the Kasa app.
Buildings offered by Kasa can be invested in through a DAISHIN SECURITIES account, and an event is underway that provides 10,000 won in investment support funds when a new account is linked.