KB Asset Management to Sell HiteJinro Seocho Building... "Four Years After Acquisition"

KB Asset Management has initiated the sale of the Hite Jinro Seocho Building it owns.

According to the financial investment industry on the 24th, KB Asset Management recently sent a Request for Proposal (RFP) to real estate consulting firms and accounting firms to sell the Hite Jinro Seocho Building held under the ‘KB Wise Style Private Real Estate Investment Trust No. 12’.

KB Asset Management plans to select a sales lead manager as early as the end of this month and then begin full-scale marketing.

The Hite Jinro Seocho Building is located at 14 Seochojungang-ro, Seocho-gu, Seoul, and was completed in 1998. It has 3 basement floors and 18 above-ground floors, with a total floor area of 37,076㎡ (11,215 pyeong).

Among these, the KB Wise Style Private Real Estate Investment Trust No. 12 includes floors 6 to 17 above ground and part of the Matis Parking Lot located opposite the Hite Jinro Seocho Building. The total area amounts to approximately 27,421㎡ (8,295 pyeong). Previously, KB Asset Management attempted to sell once in 2022 but withdrew due to the real estate market downturn.