Koramco Moves Ahead with Sale of "Yeouido Hana Securities Building"...Bidding on March 9

Koramco REITs Management & Trust announced on the 11th that Koramco The One REIT, a listed REIT, has posted a sale notice for the "Yeouido Hana Securities Building" that it owns and has begun the full-scale sale process.

The Yeouido Hana Securities Building is an office facility, with a site area of 7,570 square meters and a total floor area of 69,826 square meters. The current floor area ratio is around 580%. Koramco stated that, in line with the future Yeouido financial core district unit plan, the property has the potential to be developed up to a maximum floor area ratio of 1,200%, making it an asset with significant development potential.

An affiliate of Hana Financial Group is leasing about 70% of the total rentable area, and both domestic and foreign companies such as 3M Korea and Intel Korea are tenants in the building. The current occupancy rate is around 99%. The main tenant, Hana Securities, notified Koramco The One REIT at the end of last year of its intention to exercise the call option to purchase the building. Following the sale notice, Koramco plans to distribute an information memorandum to bidders, hold bidding on March 9, and select a preferred negotiation partner within March.

Jeong Seunghoe, CEO of Koramco REITs Management & Trust, said, "The sale of the Hana Securities Building goes beyond the transaction of a single asset and is a process in which Koramco showcases to the market the REITs management and exit capabilities it has built up over the past several years," adding, "Koramco has consistently managed the entire process of investment, management, and exit based on the intrinsic competitiveness and mid- to long-term value of assets, and this principle will continue to lead to clear results even in a high-interest-rate and volatile market environment."

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