ARA inks deal to acquire Seoul square in Seoul, Korea

SINGAPORE: Premier global integrated real assets fund manager ARA Asset Management Limited (ARA) has announced that it has entered into a sale and purchase agreement (SPA) to acquire, via a new private real estate fund in Korea managed by ARA Korea (REF) Limited, a 100 percent interest in Seoul Square in Seoul, Korea.

Located just across the street from Seoul Station in the heart of Seoul with convenient connections to major areas such as Gangnam and Yeouido through various transportation networks, the LEED-Platinum certified environment-friendly property is a 23-storey prime office building spanning 132,806 square metres in gross floor area.

It is also the world’s first building to implement a 7,722-square-metre 150×280 pixel media facade equipped with 126,000 EA LED, which is often used to display popular art, providing much vibrancy to the area. [the_ad id=”32940″]Country Head of ARA Korea, Anthony Kang, said: “Seoul Square is one of the most iconic and high profile prime office buildings in Seoul with a rare large and efficient floor plate. The Property is located within a core transportation hub area in Seoul with convenient access to local, regional and national destinations through numerous subway lines, railways and bus lines. Anchored by long-WALE leases with major high quality domestic and foreign tenants, Seoul Square is well-positioned to deliver superior performance as a latest addition to ARA’s suite of core office assets in Korea.”

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