South Korea’s Hana Asset Management Co. has embarked on the process to sell Hana Card headquarters building located in central Seoul with hopes to profit 30 billion won ($26.8 million) from the deal.
According to industry sources on Monday, the asset manager named Jones Lang LaSalle Korea, local unit of international property consultant as its sale agency. Invitations will go out for final bidding deadline in September.
The offer would demand from 90 billion won and 100 billion won, delivering nearly 30 billion won profit for Hana Asset Management as it had purchased the building at around 600 billion through a real estate private equity fund in September 2012.
Located in one of the busiest streets in downtown Seoul, the Hana Card building has 12 floors above ground and six floors below, and commands total space of 15,000 square meters.
The downside is that its primary occupant Hana Card will be moving out by the end of September this year.
By Song Gwang-sup
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]