Savills Korea, a global full-service real estate company, said on the 31st it was selected as the partner to build a CPM (Consolidated Property Management) system to strengthen professional asset management capabilities for three listed REITs managed by Koramco REITs Management and Trust.
Accordingly, over the next five years Savills Korea plans to gradually build and operate a specialized management system for about 150 key domestic assets—such as gas stations, logistics centers, offices, and retail—held by KORAMCO LIFE INFRA REIT, Koramco The One REIT, and E KOCREF.
Savills Korea plans to serve as a comprehensive partner that supports and executes strategic decision-making from an asset management perspective—not only handling the day-to-day operation and management of assets, but also providing asset-by-asset acquisition and disposition advisory, planning and executing leasing strategies, and deriving value-add measures through remodeling to enhance asset value.
Koramco REITs Management and Trust pushed for a restructuring of its asset management framework to strategically advance the management systems that had been dispersed by individual assets, in order to raise the quality of asset management for listed REITs by one notch. The selection of the CPM firm lays the groundwork to respond more consistently and professionally, over the long term, to the key issues of each REIT and asset, and through this the company plans to secure the competitiveness of listed REITs and pursue sustainable growth that aligns with shareholder interests.
Yang Seunghwa, executive vice president of Savills Korea's Asset Management Division, said, "The selection of Savills Korea as the CPM firm for Koramco REITs Management and Trust's listed REITs recognizes our comprehensive real estate service capabilities and expertise," and added, "We will provide the optimal solutions needed for the long-term growth of each listed REIT and the enhancement of asset value."