Decision to Postpone Namsan Square Sale Sends Message to Market

2022. 08. 31 · Byungki Koh

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Providing Up-to-date news and contents of Korean commercial real estate market including investment, REITs and market players.

Kohlberg & Kravis Roberts (KKR) has put a pause on their decision to sell Namsan Square. KKR sent a Request for Bidding Proposal (RFP) to their sales advisory firm on the 11th and received offers until the 18th. It was put on the market much earlier than planned. Initially the plan was to finish construction and fill the building with tenants before selling to increase the asset’s value. But the sale was under a hurried review before anyone expected due to increased market uncertainty. KKR has said it pushed the sale to the review stage due to interest rate hikes and economic downturn. 📝KKR Pushes Forward with Namsan Square Sale […]

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Byungki Koh

Content Editor, Seoul Property Insight(SPI)

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