KB Asset Management Achieves Highest Real Estate Deal This Year... Acquires Samsung SDS Tower

KB Asset Management announced on the 2nd that it has acquired the Jamsil Samsung SDS Tower in Songpa-gu, Seoul, considered the largest real estate transaction of the year.

The Jamsil Samsung SDS Tower, purchased by KB Asset Management for 850 billion KRW, has a total floor area of 99,536.9㎡ (31,100 pyeong) and consists of 30 floors above ground and 7 floors underground.

The transaction amount surpasses those of Pangyo Alphadom Tower (728.4 billion KRW), Concordian Building (629.2 billion KRW), and Majesta City Tower 1 (520 billion KRW). Samsung SDS will lease the entire office space for the next 10 years, eliminating vacancy concerns during this period.

The 'KB Core+ Blind Fund,' led by KB Financial affiliates including KB Kookmin Bank, KB Insurance, KB Life, and KB Capital, spearheaded the deal and attracted participation from major domestic insurance companies and institutional investors.

Shin Dongheon, Head of Real Estate Management at KB Asset Management, stated, "This is the fourth real estate investment fund involving KB Financial affiliates. We view the current market situation as an opportunity for buyers to incorporate high-quality assets," adding, "We plan to actively incorporate premium assets by leveraging our proven expertise."

KB Asset Management currently operates the Center Place building located in Euljiro, Jung-gu, Seoul, through a public offering fund.

Samsung SDS Jamsil Headquarters
Photo by Samsung SDS

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