Shinhan Alpha REIT Selects Preferred Bidder for Yongsan The Prime Tower Sale

2022. 09. 21 · 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.

Shinhan Alpha REIT asset Yongsan The Prime Tower has been put up to sale and Mastern Investment Management has been selected as preferred bidder. Shinhan REITs Management’s Shinhan Alpha REIT acquired Yongsan The Prime Tower in 2018 for KRW 178 billion. The asset was appraised in June 2020 for KRW 228.8 billion. This is the first underlying asset being sold by Shinhan Alpha REIT. Yongsan The Prime Tower is an office building located on Wonhyo-ro in Yongsan-gu. Completed in 2014, it has six basement levels and 30 above-ground levels with a total floor area of 39,008m2. Major tenants include Shinhan Life Insurance, TransCosmos, U-Base, and DB Life Insurance. As of […]

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Byungki Koh

Content Editor, Seoul Property Insight(SPI)

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