Hanwha REITs Signs Main Contract for Emart Tower Acquisition... Aiming to Complete by Early June

Hanwha REITs is accelerating the expansion of its asset portfolio by signing the main contract for the acquisition of Emart Tower (Orange Center) just two months after being selected as the preferred bidder.

On May 20, Hanwha REITs announced that it has signed the main contract for the Emart Tower acquisition and plans to complete the acquisition by early June. Previously, on March 11, Hanwha REITs had been selected as the preferred bidder for the Emart Tower acquisition.

Hanwha REITs has completed the recruitment for a mortgage loan for Emart Tower and has established a stable financing plan without a separate paid-in capital increase, enabling the main contract process to proceed smoothly.

Emart Tower is expected to contribute to Hanwha REITs' value enhancement. Emart Tower is a prime-grade office building located at 7 Sejong-daero, Sunhwa-dong, Jung-gu, Seoul. It consists of six basement levels and 19 above-ground floors, with a total floor area of approximately 34,173 square meters. Currently, Emart leases 98% of the entire area as a single tenant, and with a remaining lease period of seven years, stable rental income is ensured.

A representative from Hanwha REITs stated, "With this acquisition of Emart Tower, we expect the timing of additional dividends to be advanced."

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