[Asia Economy Reporter Park So-yeon] NH Nonghyup REITs Management announced on the 26th that it has successfully refinanced the senior secured loan (118 billion KRW) on Bundang Square, owned by NH All One Trust Management Real Estate Investment Company (NH All One REITs).
An investment banking industry official stated, "The senior secured loan on Bundang Square is set to mature on January 3 next year, and the final loan approval from the lending consortium, including NH Nonghyup Bank, has been completed."
Recently, due to rapid interest rate hikes and lending restrictions from major past lenders such as life insurance companies, new loans and refinancing for commercial real estate have been facing difficulties.
NH All One REITs is known to have received positive market evaluations due to the increase in the value of its real estate assets and a stable dividend payout ratio with a 100% occupancy rate.
In particular, this refinancing of Bundang Square reportedly increased participation from other financial sectors by having NH Nonghyup Bank, an affiliate of NH Financial Group, participate as the anchor lender.
Meanwhile, NH All One REITs plans to finalize the refinancing scale and lending consortium through a board resolution this week and proceed with related disclosures.
This year, REITs (Real Estate Investment Trusts) stock prices sharply declined due to interest rate hikes and the 'Legoland incident' but have recently shown signs of recovery. This is attributed to the easing pace of U.S. benchmark interest rate hikes and increased dividend expectations.
Samsung Securities forecasted that in next year's annual dividend yield outlook, D&D Platform REITs (9.4%), JR Global REITs (9.0%), and NH All One REITs (8.9%) will show high figures.
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