[Asia Economy Reporter Eunmo Koo] NH Investment & Securities is acquiring the Tower 2 (Building B) office of the mega complex Park One currently under construction in Yeouido, Seoul.


According to the investment banking (IB) industry on the 15th, Y22 Project Finance Investment, the developer and operator of Park One, and the sales agent Savills Korea recently selected NH Investment & Securities as the preferred bidder for the acquisition of Park One Tower 2. NH Investment & Securities reportedly offered a purchase price of around 950 billion KRW, and the actual sale price appears to have been decided at a similar level.


Since NH Investment & Securities is currently leasing its office after selling its previous building, it is highly likely that the headquarters will relocate to Park One Tower 2 once the building is completed.


Park One Tower 2 has 53 floors and is the third tallest building in Yeouido after Park One Tower 1 (69 floors) and IFC 3 (55 floors). Park One, consisting of two office buildings, a shopping mall, and a hotel, was first initiated in 2007, but construction was delayed several times due to lawsuits between the developer and the landowner. It is scheduled to be completed around July.


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Earlier, NH Investment & Securities led a project financing (PF) investment worth 2.1 trillion KRW in 2016 when construction of Park One was halted, helping to raise the necessary project funds.


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