Successful disposal of Timesquare, a landmark of Yeongdeungpo
JLL successful completed the sale of Timesquare office building, which was invested as a CORE blind fund No. 1 of NH Amundi Asset Management.
Location
Seoul, Korea
Size
39,008 m2
Spotlight
NH-Amundi AMC's first investment
Industry
Office
JLL, on behalf of NH Amundi Asset Managemnet Company, was selected as a sale advisory for the Timesquare office building, which was invested as a CORE blind fund No. 1 of NH Amundi Asset Management.
Timesquare is a complex facility which was completed in 2009 and is a representative landmark asset of Yeongdeungpo-gu, including office, hotel and shopping mall. The office facility of Timesqeare was subject to dispostion with total GFA of 39,008 sqm with stable rent income.
Despite of the unfavorable location as a office facility, JLL have attracted high interest from investors through strategic marketing campaigns, leading to successful competitive bidding. JLL achieved a sales price of KRW 255.5 billion in total sales and KRW 21.6 million per pyeong.
