IGIS Asset Management’s long-awaited transaction for Shilla Stay Seodaemun has ended in disappointment. IGIS selected JLL Korea as its sales advisor at the end of 2023 and has been promoting the sale of the hotel property. Last April during the first bidding, proposed prices fell short of expectations, so another bidding was held last May. CapitaLand Investment Management participated in the bidding alone, and IGIS selected it as the preferred bidder in early July last year. However, disagreements that included the transfer of ownership caused the negotiations to fall through in late August. Since then, IGIS has continued to explore the sale, and until recently has been negotiating […]