The bidding for Noudit Hongdae, sold by IGIS Asset Management, was more successful than the market predicted. IGIS has been pushing for the sale of the asset ahead of the KRW 102 billion loan maturity on June 1, but they refused to sell too quickly if the potential buyers could not offer the expected price range in the mid KRW 140 billion. The recent interest in co-living and hotel properties, particularly among foreign investors, created more competition than initially expected. In the bidding held on May 15, a total of five participants took part, and IGIS shortlisted three of them: DDI, Travelodge-Blackstone, and SI Asset Management-TPG Angelo Gordon, […]