The five shortlisted candidates for the 'Pangyo Tech One Tower' in Bundang, Seongnam, have been selected.
According to investment banking (IB) industry sources on 4th, Mirae Asset Global Investments, which is selling Pangyo Tech One Tower, has selected five candidates as shortlisted (qualified preliminary candidates): Smilegate, KakaoBank-Korea Investment Real Asset Management, Capstone Asset Management, Create Asset Management, and KOREIT.
Mirae Asset Global Investments plans to interview them before selecting the preferred bidder based on factors such as acquisition price and transaction completion potential. The sale advisory is handled by CBRE Korea and Cushman & Wakefield.
Pangyo Tech One Tower, referred to as a trophy asset, is an ultra-large office asset with 7 basement levels and 15 above-ground levels, covering a total floor area of 197,236 square meters. It is located at 534 Baekhyeon-dong, Bundang-gu, Seongnam. Major tenants include Naver and Kakao, with Naver subletting part of the space to Hyundai Motor through a sublease agreement.
Mirae Asset Global Investments holds the asset through the Mirae Asset MAPS General Private Real Estate Investment Trust No. 62. The maturity of this fund is in 2027, which is interpreted as Mirae Asset Global Investments proactively pursuing the sale. The market estimates the sale price to be in the range of 1.7 trillion to 2 trillion won.