Anbang fund acquires office in Seoul for $225m
A fund led by a South Korean unit of China’s Anbang Life Insurance Co. has purchased the Metro Tower, an office in Seoul, for $225 million from Angelo, Gordon & Co., according to Korean Investors.
Tongyang Life Insurance Co. Ltd., 75 percent owned by Anbang Life, committed an undisclosed amount to the fund, run by South Korea’s ANDA Asset Management Co. Ltd., as the largest investor in the transaction that closed on Dec. 27.
