Namyangju Knowledge Industry Center 'Byeollae Hyundai Greenery' 105 Billion PF Secured

[Asia Economy Reporter Lim Jeong-su] A project financing (PF) worth 105 billion KRW for the construction of the Namyangju Byeollae District knowledge industry center ‘Byeollae Hyundai Greenery’ has been successfully arranged under the lead of Mirae Asset Securities.

According to the investment banking (IB) industry on the 18th, Terra Development Co., Ltd., the developer and operator of Byeollae Hyundai Greenery, recently secured a PF loan of 105 billion KRW from a consortium led by Mirae Asset Securities. The loan was executed in tranches according to repayment and collateral priority: senior tranche (Tranche A) of 78 billion KRW, mezzanine tranche (Tranche B) of 17 billion KRW, and junior tranche (Tranche C) of 10 billion KRW.

Terra Development is the project operator for the knowledge industry center development project located at 865 Byeollae-dong, Namyangju-si, Gyeonggi-do. They plan to construct and sell a large-scale knowledge industry center building along with neighborhood facilities. The funds raised will be used for construction costs of the knowledge industry center. Hyundai Engineering & Construction is in charge of the construction.

Namyangju Knowledge Industry Center 'Byeollae Hyundai Greenery' Expected Perspective View

Byeollae Hyundai Greenery will be built on a 12,986㎡ (approximately 3,928 pyeong) site in Block 15 of the Byeollae Urban Support Facility Land in Namyangju, consisting of 2 basement floors and 15 above-ground floors, with a total floor area of 79,974㎡ (approximately 24,192 pyeong). Nearby, Byeolgaram Station on Line 4 is scheduled to be newly established within this year, and Byeollae Station on Line 8 and the Gyeongchun Line is expected to open in 2023.

An IB industry insider commented, "Recently, many knowledge industry centers have been built across new towns, raising concerns about unsold units," but added, "In the case of Byeollae Hyundai Greenery, with transportation benefits such as the GTX-B line extension and a wide-area transportation network, the likelihood of successful sales appears high."

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