Commercial real estate service corporations Rsquare said on the 8th that it wrapped up sell-side advisory at the end of March for the Bundang Sunae-area flagship office "Humax Village."
Korea Real Estate Investment & Trust Co. (KOREIT) sold the asset it held to Hanwha Vision for about 280 billion won (about 20.75 million won per 3.3㎡). Hanwha Vision plans to use the building as headquarters and offices for affiliates. Humax Village has a total floor area of about 44,600 square meters and is a landmark office representing the Bundang Sunae area.
Rsquare comprehensively analyzed the asset's location, scale, and potential uses, focusing on consolidation with demand from corporations that could actually occupy it. With transactions led by financial investors slowing, it sourced a buyer centered on end-user demand and completed the transaction.
Rsquare narrowed a pool of potential buyers using more than 500,000 data points accumulated in Rsquare Analytics (RA) and expanded touchpoints with buyers by leveraging a corporations network built through tenant representation (TR) and lease management (LM) businesses. By doing so, it designed a structure where asset characteristics aligned with corporations demand, raising the transaction's completeness.
Investment Advisory Division Head Lee Ho-jun said, "In the recent office sales market, the role of strategic investors (SI) is growing," adding, "We will continue strategic advisory that meets the needs of both sellers and buyers by using our SI network and proprietary data accumulated through tenant, lease management, and asset management businesses."