Hana Bank Partners with Building Listing Platform Casa to Manage Investor Deposits

Gangnam Triple Station Area Education Landmark Yeoksam Londonville Phase 1 Public Offering

[Asia Economy Reporter Kim Hyo-jin] Hana Bank announced on the 13th that it will be solely responsible for managing investor deposits for 'Casa,' the nation's first real estate trust beneficiary certificate trading platform where buildings can be bought and sold like stocks.

Casa, in partnership with Hana Bank and Korea Land Trust, will launch its first public offering of a listed building, Yeoksam Londonville, through the Casa application (app) starting on the 25th. Yeoksam Londonville is a newly constructed building completed in October last year, located in Yeoksam-dong, Gangnam-gu, Seoul, with one basement floor and eight above-ground floors, valued at around 10 billion KRW.

Providence Christian Academy (PCA) Korea, the first global branch of the prestigious American private school Providence Christian Academy (PCA), has leased the entire building on a long-term 5-year lease.

Investors participating in the public offering of beneficiary certificates for the Casa listed building will receive rental income every three months based on the stability of a single, long-term lease, and can easily buy and sell the certificates like stocks on the Casa app to enjoy capital gains.

Hana Bank will be solely responsible for managing investor deposits to ensure the safety of investment assets, while Casa will handle the public offering and trading services of digital beneficiary certificates (DABS). Korea Land Trust, the number one real estate trust company, will be the registered owner of the building and will handle the issuance of beneficiary certificates, building guarantees, management, operation, and execution of rental income.

Yeom Jeong-ho, Group Head of Future Finance Group, said, “Through Hana Bank’s easy non-face-to-face account opening, individual investors can invest in prime commercial buildings without burden, and we expect a lot of interest from investors in new alternative investments through the Casa platform.”

Yechang-wan, CEO of Casa Korea, the operator of Casa, stated, “Starting with Yeoksam Londonville, the first publicly offered listed building, we will continue to list high-quality buildings such as the second building on Teheran-ro.” Casa is a real estate indirect investment platform designated as an innovative financial service by the Financial Services Commission last year.

This content was produced with the assistance of AI translation services.