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KKR assumes ownership of Namsan Green Building in Seoul
KKR has signed agreements to acquire Namsan Green Building, a 57,574-square-meter (619,721 square foot) office building in Seoul’s CBD. Financial terms were not disclosed.
Namsan Green Building is centrally located near major transportation networks, including Seoul Station, that connect to all the major cities in Korea and the Seoul Station Bus Transit serving the Greater Seoul area. The building now is the headquarters of SK Broadband, a subsidiary of SK Telecom, Korea’s largest wireless carrier and the telecommunications arm of SK Group.
“Our investment in Namsan Green Building provides us with a unique opportunity to acquire a high-quality asset in a strategic location and add value by leveraging our real estate expertise to enhance its offerings for today’s modern office demands,” said David Cheong, managing director, real estate at KKR. “We remain confident in the long-term prospects of Korea’s office real estate market, where future supply is extre