Keppel Capital buys three Seoul office buildings for $370m
Alpha Asia Macro Trends Fund III, a fund managed by Keppel Capital’s Alpha Investment Partners unit, has agreed to purchase a set of three Seoul office buildings for a combined KRW 430 billion ($370.5 million).
The seller was Samsung SRA Asset Management.
The portfolio of three commercial buildings comprises Yeouido Finance Tower, located in the Yeouido business district (YBD); Nonhyun Building, located in the Gangnam business district (GBD); and Naeja Building, located in the Gwanghwamun central business district (CBD). The acquisition of the three buildings is expected to be completed in the second quarter of 2019.
Alpha Investment Partners held a final closing of the Alpha Asia Macro Trends Fund III in January 2019. Including co-investments, the fund raised a total of about $1.1 billion, exceeding its initial target of $1 billion. AAMTF III is the third value-add pan-