09 May '18, 9am

#Singapore sovereign fund GIC & @cppib acquire Seoul office #property #realestate

#Singapore sovereign fund GIC & @cppib acquire Seoul office #property #realestate

CPPIB and GIC Enter into Joint Venture Partnership to Acquire an Office Property in Seoul’s Central TORONTO, CANADA/SINGAPORE , 9 May 2018 – Canada Pension Plan Investment Board (“CPPIB”) and GIC have entered into a joint venture partnership to acquire a Grade A office building in Seoul, Kumho Asiana Main Tower from Kumho Asiana Group, parent of Asiana Airlines for KRW418 billion (US$380 million). Following this transaction, CPPIB and GIC will each own a 50% stake in this landmark property, which is located in the centre of Gwanghwamun, a core office, government and cultural precinct in Seoul’s Central Business District, and offers good access to Gwanghwamun Station, a key public transport hub. Due to its prime location, surrounding amenities and historical and cultural importance, the Gwanghwamun district is favoured by both local and multinational tenants. Jimmy Phua, Ma...

Full article: https://www.gic.com.sg/news-and-insights/cppib-and-gic-en...

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