Keppel’s private funds acquire office tower in Seoul’s CBD
Keppel’s private funds — Keppel Asia Macro Trends Fund IV (KAMTF IV) and a co-investment program (CIP) committed by a leading Korean financial institution — have acquired the Bank of Korea's Sogong Annex Facility in Seoul’s CBD.
The financial terms were not disclosed.
KAMTF IV and the CIP will each hold an effective interest of 50 percent in the Bank of Korea's Sogong Annex Facility, which comprises a 13-story office building with adjacent parking facilities, spanning a total gross floor area of about 15,750 square meters (169,530 square feet). Originally built as the headquarters of Korea Commercial Bank, the property is strategically located at the intersection of Myeongdong and Namdaemun in Seoul’s CBD, and is surrounded by offices of various large enterprises and financial institutions, including