Kasa Finalizes Sale of "Seocho Gwell Tower," Sets Record for Most Sales in Fractional Investment Industry

Fifth Successful Sale Sets Industry Record
Cumulative Fractional Investment Sales Reach 51.33 Billion Won
86.68% of Total Public Offering Buildings Sold

Real estate fractional investment platform Kasa announced on September 10 that it has finalized the sale of "Seocho Gwell Tower" by signing a purchase agreement.

"Seocho Gwell Tower" is Kasa's second public offering building. At a general meeting of beneficiaries held for five days starting August 25, the sale proposal was approved with a 98.44% approval rate, initiating the sale process.

The final sale price of the building is 4.55 billion won. Investors are expected to achieve a cumulative return of approximately 25% compared to the public offering price, including regular dividends and capital gains from the sale.

Seocho Gwell Tower was offered to investors through a public offering in July 2021. It drew attention for its "double station area" location between Gangnam Station and Gyodae Station, as well as positive developments such as the undergrounding of the Gyeongbu Expressway.

Kasa plans to complete the remaining sale procedures together with Korea Land & Trust. With this transaction, Kasa has successfully completed its fifth sale, setting a record for the most sales in the fractional investment industry.

Upon completion of this sale, Kasa's cumulative total sales will reach 51.33 billion won. This represents 86.68% of the total public offering amount to date, meaning that Kasa has successfully sold most of its publicly offered buildings.

Hong Jaekeun, CEO of Kasa, stated, "The advantage of real estate fractional investment is that you can invest in prime location buildings and earn both dividends and capital gains without large capital. We will continue to expand our investment assets so that anyone can easily and conveniently add prime buildings to their investment portfolios."

Kasa was designated as an innovative financial service by the Financial Services Commission in 2019 and has currently applied for a brokerage license from financial authorities. By issuing beneficiary certificates for non-monetary trusts, Kasa provides opportunities to invest in commercial real estate, allowing investors to easily participate with small amounts through the Kasa app.

Buildings offered by Kasa can be invested in through Daishin Securities accounts, and an event is currently underway in which new account connections are rewarded with a 10,000 won investment support fund.

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