이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
AIG kicks off divesting IFC real estate
- Collected
- 2016.03.19
- Distributed
- 2016.03.22
- Source
- Go Direct
AIG Korea Real Estate Development (AIG KRE) and sale adviser Eastdil Secured LLC are inviting institutional investors at home and abroad to participate in a tender to buy IFC until April 4.
Up for grabs are three IFC office buildings, IFC mall and Conrad Hotel, estimated at up to 3 trillion won ($2.58 billion) in total. For the auction, interested buyers should submit desired assets and price which will be considered by the real estate seller.
An unnamed source in the investment banking (IB) industry said that some prefer to buy the whole package, whereas others would buy certain property of the real estate, given its gigantic size.
The construction of IFC was completed in phases in 2012, on land with a floor area of 505,236 square meters, leased by Seoul Metropolitan Government. AIG KRE has invested in, developed and operated the complex consisting of three IFC offices, Conrad Seoul Hotel and IFC mall. Market watchers expected stable cash inflow from leases as IFC is located in Yeouido, main financial district in Western Seoul.
Probable buyers are global real estate funds, private equity funds (PEFs), major sovereign wealth funds - in particular, Blackstone Group LP, New York-based global private equity and alternative asset manager that visited Conrad Seoul Hotel last year for investment. The National Pension Fund (NPS), the state-run pension fund, mulled investing in IFC late last year.
By Song Gwang-sup
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]