JLL has announced that, jointly with NAI Propertree and Deloitte, it acted as a consortium sales adviser on behalf of EDN Investment Management, to complete the transaction of the fund’s beneficiary certificates for the sale of GB I and GB II Tower, two office assets with a total gross floor area of 57,680 square meters (620,860 square feet), located in the highly sought-after Pangyo Techno Valley in Seoul.
Eden Asset Management purchased the office assets in April 2022 and has since operated them through its fund Eden General Private Real Estate Investment Trust No. 10. According to JLL, 100 percent of the beneficiary certificates of the fund was transacted at KRW 385 billion ($297.3 million) on an asset sale basis.
A number of beneficiaries, including SK Securities, were able to secure abundant liquidity and profits in a short period of time through the successful sale of beneficiary certificates throughout volatile market conditions.
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