이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
Korea’s 4 insurers invest $179 mn in Google’s Silicon Valley office bldg
- Collected
- 2016.08.31
- Distributed
- 2016.09.01
- Source
- Go Direct
The four insurers made investments in Google’s office building on condition of buying a senior mortgage-backed loan with expected rate of return of over 4 percent per annum.
The investment would be made in the form of a senior loan, which has lower returns than investments through direct purchase of the stake and Mezzanine debts. But it is less risky. Therefore, the investment is attractive to local insurers that pursue stable asset management.
The three-story office building has more than 18,500 square meters in total floor area. Google occupies most part of the building, leaving little available space. The rent fees in the district are relatively high.
This year, local insurance companies have invested in foreign properties in the form of a senior loan. In June, six insurers including Nonghyup Life Insurance Co. invested 240 billion won in Atlantic Building located in Washington D.C. and, in February, four insurers including KDB Life Insurance Co. made investments of 120 billion won in Courvoisier Centre located in Florida.
By Song Gwang-sup
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]