ARTICLES LABELLED WITH TAG Korea

Savills Investment Management has entered into an agreement to form a strategic investment alliance with Samsung Life, the leading life insurer in Korea, and its real estate asset management subsidiary Samsung SRA. As part of this agreement, Samsung Life will acquire a minority interest in Savills IM Holdings Limited and commit capital of US$1 billion to Savills IM's investment strategies over the initial four years of the relationship. The transaction, which is conditional on various regulatory approvals and other customary closing conditions, is expected to complete in Q4, 2021.

Savills Investment Management has completed the acquisition of the logistics unit leased to Leroy Merlin in Piątek from Invesco Real Estate, the global real estate investment manager, on behalf of Korean institutional investors managed by Vestas Investment Management.

Patrizia Immobilien AG has sold the Feniks office building in Warsaw to a South Korean investor via Warburg-HIH Invest Real Estate. Savills advised the buyer in the transaction.

The information on investment transactions in the Czech real estate sector for H1 2019, collected by Cushman & Wakefield, indicates a significant increase in volume. The figure achieved – €1.743 billion – shows that the decrease in 2018 was just a sway and not a real trend. The real estate market is expected to thrive in the latter half as well and its total performance could exceed €3 billion.

Skanska has sold its Nordic Light Trio office building in Budapest to JR AMC, a South Korean real estate investment trust. This is not only the buyer's first acquisition with Skanska, but it is also its first office investment in the CEE region after transactions in Vienna, Dublin and Paris. 

Following several successful transactions in Prague (Waltrovka, Rustonka, Main Point Pankrác), the sale of Bratislava’s Twin City Tower marks another major Central European deal involving a Korean investor. Cushman & Wakefield, which over the course of the past few months has helped bring a total of €600 million of Korean capital to the region, summarised the phenomenon.

Mint Investments Group has completed the acquisition of the Main Point Pankrác office building for South Korean investment company Hana Financial Investment. The value of the transaction exceeds €115 million. Mint provided the investment underwriting and advisory during the transaction and will be responsible for the property's asset management. Dentons, Cushman & Wakefield, Arcadis and TPA also advised on the transaction.

Hines, on behalf of Korean investors represented by IGIS Asset Management, has completed the acquisition of the Zalando Lounge distribution centre in Ameryka near Olsztynek. Hines will be the asset and property manager, providing a comprehensive service for IGIS and investors represented by IGIS.

ZFP Investments has sold the Florenc Office Center, commonly known as the KPMG HQ building, in Prague, to Shinhan Investment Corp, a Korean based investment manager. CBRE represented the vendor in the sale of the asset. The transaction constitutes the first direct real estate investment in the Czech Republic by a Korean investor.

The Cedet building, located in central Warsaw, has been sold to a fund managed by GLL Real Estate Partners on behalf of Korean investors for €129.5 million. pbb Deutsche Pfandbriefbank provided a credit facility of €75.4 million to the buyer.