On April 10, M&G Investments announced that it has completed the sale of its Teheran-ro, Gangnam asset, Icon Yeoksam. Icon Yeoksam is a 15-floor office building that was acquired by M&G in 2020. It has now appreciated 44% to be sold for KRW 204.3 billion. M&G took an active approach to improve the building’s rental potential, raising rents 30% and thereby raising the value of the property. Martin Seol, Head of Targeted Strategy at M&G Real Estate Asia commented, “The successful transaction of ICON Yeoksam exemplifies the strength of our regional value-add investment approach involving strategic capital deployment and repositioning to realise optimal value. We are delighted with […]