This article was posted on the ChosunBiz MoneyMove (MM) site at 3:43 p.m. on Jan. 12, 2026.
KB Asset Management is putting the landmark building in Guro-dong, Seoul, CenterPoint West, up for sale. It has been about four years since it was first included as an asset after gaining REITs asset management company (AMC) approval in 2021.
According to the investment banking industry on the 12th, KB Asset Management recently sent request for proposals (RFPs) to commercial real estate consulting firms and accounting firms to sell the CenterPoint West building. It plans to finish selecting advisers next month and begin the full sale process.
The CenterPoint West building is a large mixed-use complex, completed in 2007, with seven basement levels to 40 aboveground floors and a total floor area of 92,173 square meters. It is directly connected to Sindorim Station on Seoul Subway lines 1 and 2, giving it an ultra-transit-oriented location, and currently houses major domestic card companies and insurance company call centers. Its occupancy rate is about 93.8%, and it is considered to secure a stable cash flow.
It has excellent location conditions as it is directly connected underground to Sindorim Station, served by Seoul Subway lines 1 and 2. In addition, domestic card companies and insurance companies use it as branches and call centers, and because most of them are affiliates of large corporations, cash flow is also stable. The occupancy rate is about 93.79%.
The former name of the CenterPoint West building was Seobu Finance Center. The previous owner, Mastern Investment Management, purchased it from Shinhan BNP Paribas Asset Management in 2017 for about 320 billion won and renamed it CenterPoint West building.
Afterward, KB Asset Management acquired the building in September 2021, one year after receiving approval to also operate as an AMC. The deal was made through a share deal that only changed the shareholders of Mastern Investment Management REIT. At the time, the total amount KB Asset Management raised was 409.7 billion won.
Preferred equity investors include Shinhan Bank, Korea Standard Chartered Bank, KB Securities, and Korea Fire Officials Credit Union. Shinhan Bank and Korea Standard Chartered Bank provided funds in their roles as trustees. KB Asset Management, KT Estate, MaxServe, and Korea Electronic Financial are listed as common equity investors.
The industry is watching whether this sale will attract strong interest. That is because another prime office nearby, Keppel Asset Management's D-Cube City Office 2, is also on the market. As large properties have been listed simultaneously within the Sindorim area, competition to secure buyers is expected to be inevitable. After failing last year to sell Office 1 and Office 2 together in a bulk sale of the D-Cube City complex, Keppel Asset Management is pursuing separate sales this year.