Eugene REITs Management Selected as Preferred Bidder for Special Post Office Pension Management Group Building Acquisition

Final Bid Amount Exceeds 130 Billion KRW
Office Building with 6 Basement and 18 Above-Ground Floors
Planned to Be Used as Integrated Group Headquarters

Eugene REITs Management, a REITs-focused asset management company under the Eugene Group, has achieved its first investment milestone since its establishment by being selected as the preferred bidder for the Special Post Office Pension Management Group Building.

Seoul Mapo-gu Special Post Office Pension Management Group Building. Eugene Group

On July 7, Eugene Group announced that Eugene REITs Management had been selected as the preferred bidder to acquire the Special Post Office Pension Management Group Building, located at 130 Mapo-daero, Mapo-gu, Seoul. The final bid amount exceeds 130 billion KRW.

The Special Post Office Pension Management Group Building, which has become the subject of priority negotiations, is a large-scale office building with six basement floors and eighteen above-ground floors, a total floor area of approximately 22,647 square meters, and a site area of 1,935 square meters. It is located in a prime transportation hub at Gongdeok Station, where subway lines 5 and 6, the Gyeongui-Jungang Line, and the Airport Railroad intersect, offering excellent accessibility. Once the Shinansan Line opens, the building will be connected to a total of five lines, transforming it into a 'penta-station area.'

Eugene Group plans to use this building as its integrated headquarters. Currently, Eugene Group's headquarters is the Eugene Building on Yeouidaero in Yeongdeungpo-gu, Seoul, but as the company has grown, its affiliates have become dispersed across Yeouido, Yongsan, and Mapo. By acquiring this large-scale office building in a prime location, the group aims to consolidate its affiliates in one place, enhance work efficiency and synergy among its affiliates, and increase asset utilization.

Eugene REITs Management received approval as a REITs AMC from the Ministry of Land, Infrastructure and Transport in April this year and began its full-scale business operations. This acquisition marks the company's first investment achievement since its establishment, demonstrating its operational capabilities to the market and serving as a turning point for the group's expansion into real estate finance.

Eugene REITs Management has now secured a stable rental income base and is positioned to actively pursue diversification of its real estate portfolio, focusing on high-quality assets. In particular, the Mapo and Gongdeok areas are expected to have a positive impact on asset value appreciation and investment returns over the medium to long term, thanks to their excellent transportation, business environment, and living infrastructure.

A Eugene Group representative stated, "Being selected as the preferred bidder is the first achievement since the establishment of Eugene REITs Management and serves as a meaningful milestone that proves the company's capabilities and growth potential in the market," adding, "Through the REITs business, we will diversify the group's business portfolio and grow into an advanced developer that integrates assets, spaces, and content."