[Alpha Biz=(Chicago) Reporter Paul Lee] KB Asset Management will sell 'Center Place', a core office asset centered on downtown Seoul (CBD). It is expected to be a successful exit (recovery of investment) as it has made profits from stable fund management since its purchase in 2019.

According to Money Today on the 20th, KB Asset Management sent a request for bidding proposal (RFP) to a real estate sales advisor to sell the center place held through KB Wise Star Real Estate Investment Trust No. 3.

Center Place is located at 40, Namdaemun-ro 9-gil, Jung-gu, Seoul. It is a net office asset in the center of CBD, a key business district in Seoul, and is located between City Hall Station where subway lines 1 and 2 intersect and Euljiro Station where line 2 passes.

KB Asset Management purchased the Center Place in 2019 by jointly investing funds from KB Financial Group and public investors. It is an office with a floor area of 32,720 square meters with four to 23 floors above the ground, excluding shops in the building.

 

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