Hanssem Sells Seoul Sangam-dong Headquarters Building for 320 Billion KRW

Hanssem has sold its office building in Sangam-dong, Seoul. Through this sale, Hanssem has secured cash liquidity to strengthen its financial soundness.

According to the Financial Supervisory Service's electronic disclosure system on the 30th, Hanssem announced that it sold the Sangam-dong office building to Gravity Asset Management (Gravity General Private Real Estate Investment Company No. 8). The transfer amount was 320 billion KRW, and the sale was managed by S-1.

Hanssem has been pursuing office building securitization since 2022. During the tenure of former CEO Kim Jintae, the sale of the Sangam-dong and Bangbae-dong office buildings was attempted but failed to yield results due to the downturn in the real estate market. Then, in February of this year, the sale of the Sangam-dong office building was reinitiated. In April of the same year, a public bidding was conducted, and Gravity Asset Management was selected as the preferred negotiation partner for the sale.

IMM Private Equity (PE), the largest shareholder of Hanssem, acquired Hanssem together with Lotte Shopping in 2021. Of the acquisition amount of 1.45 trillion KRW, IMM PE invested 750 billion KRW to secure a 27.7% stake at 222,550 KRW per share.