Real Estate Asset Management Company Shinsegae Property Investment
Establishes Operating System and Launches Business
Utilizes REITs Platform... Securitization of Prime Assets and Reinvestment in New Ventures
Shinsegae Property Investment announced on the 1st that it has appointed former NH Nonghyup REITs Management CEO Seo Cheol-su as its new CEO, marking the official entry into the REITs (Real Estate Investment Trusts) business.
Shinsegae Property Investment is a real estate asset management company (AMC) wholly funded by Shinsegae Property and was established in December last year.
Shinsegae Property Investment explained that it appointed new CEO Seo, who has experience and expertise in real estate and finance, to establish the company’s operational system in its early stages and to actively advance its REITs operations. Seo was appointed as the inaugural CEO of NH Nonghyup REITs Management in 2018, where he successfully listed and managed NH Prime REITs and NH All One REITs.
Seo worked in the fund department and project financing (PF) office at KDB Industrial Bank, then served as head of the SOC division and head of the real asset management division at Korea Investment Trust Management, and later as Chief Investment Officer (CIO) of alternative investments, accumulating over 30 years of experience in investment management. Shinsegae Property describes him as a top expert in alternative investments and REITs.
Starting with Seo’s appointment, Shinsegae Property Investment plans to focus on solidifying its operational system and strengthening its professional workforce.
Based on core assets of its parent company Shinsegae Property, such as Starfield, it plans to introduce sponsor REITs to the market. The company aims to establish a channel to continuously supply Shinsegae Property’s high-quality assets while enhancing competitiveness by providing stable REIT products to the market through Shinsegae Property’s equity participation.
A Shinsegae Property Investment official stated, "By recruiting CEO Seo, who is well recognized in the industry as a REITs and investment management expert, we aim to present a good model in the sponsor REITs market and contribute to revitalizing the capital market."
Shinsegae Property plans to create a virtuous cycle structure that efficiently reinvests in new businesses by securitizing high-quality assets it holds through its REIT AMC platform, Shinsegae Property Investment. It also aspires to expand its business portfolio from real estate development to property management company (PMC) and asset management company (AMC) to increase synergy among its businesses.
Meanwhile, Shinsegae Property is promoting complex development projects starting with the complex shopping mall 'Starfield,' including retail facilities and small to medium-sized buildings, senior housing, the reconstruction of Dong Seoul Terminal, and the establishment of Hwaseong International Theme Park City.
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