In the aftermath of the interest rate hike, the commercial real estate market has come to a near halt. Equity as well as loans, which were not a big variable in commercial real estate transactions before the interest rate increases, are completely blocked from financing. The road forward is unclear. As a result, while there are many items for sale on the market, transactions are frozen in time. Only a handful of transactions have been completed since mid-year. In fact, there have been no outstanding transactions since the Shinhan Financial Investment office building sale in Yeouido, which was completed in July. The Gwanghwamun Concordion Building and the Coupang Logistics Center […]