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Keppel acquires office tower in Seoul's CBD for $228.7 mil

Felicia Tan
Felicia Tan12/19/2022 08:30 AM GMT+08  • 4 min read
Keppel acquires office tower in Seoul's CBD for $228.7 mil
The Samhwan Building, in Seoul's CBD, is surrounded by Korean palaces in the UNESCO World Heritage List and commands unmatched views of the surroundings. Photo: Keppel Corporation
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Keppel Corporation, on Dec 19, announced that it has proposed to acquire Samhwan Building, a freehold 15-storey office tower located in Seoul, South Korea, at a purchase price of KRW220 billion ($228.7 million).

Keppel Land Limited, Keppel Asia Macro Trends Fund IV (KAMTF IV) and KB Bank Discretionary Fund, have entered into shareholders’ agreements (SHA) with the joint venture company (JVCo), Gaenari (IV), in connection with the proposed acquisition.

KAMTF IV and KB Bank Discretionary Fund are managed by Alpha Investment Partners Limited and Keppel Investment Management Co., Ltd respectively. Alpha Investment Partners and Keppel Investment Management Co. are both wholly-owned subsidiaries of Keppel Capital Holdings.

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