Petraville Asset Management will acquire Yeouido Citi Plaza (formerly the Dong-Yeouido Samsung Life Insurance Building) being sold by JP Morgan. Located opposite Yeouido IFC, Citi Plaza is an office building with a total floor area of 14,622.25 square meters and is currently the only asset that JP Morgan holds in Korea. JP Morgan acquired the beneficiary certificate for Citi Plaza from AEW Capital for approximately KRW 90 billion (or KRW 20 million per 3.3㎡) eight years ago in 2017. Prior to this, IGIS Asset Management partnered with AEW Capital in late 2015 to purchase the former Samsung Life Insurance building in Yeouido for approximately KRW 60 billion. The […]