RREEF acquired the building in March 2007 for W112 billion. This translates to a 62% return for RREEF from an asset it has held for less than 18 months and suggests the commercial market in South Korea continues to be vibrant.
The building is located in the Yoido Business District in Seoul. It was constructed in 1984 and has a floor space of 38,600 square metres spread over 16 levels. Daewoo Securities is the primary tenant of the building.
ôThere was very strong interest in acquiring this building, supporting our view that...
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