IGIS puts office tower, two nearby hotels on market in bundled sale

Quick Summary:

A prime office complex AP Tower and two adjacent hospitality properties in Seoul’s Gangnam Business District have been put up for sale in a bundled deal, according to investment banking sources on Monday.

In 2021, IGIS acquired AP Tower, formerly The Pinnacle Yeoksam, from Pebblestone Asset Management for 40.1 million won per 3.3 square meters, or one pyeong, for a total of 175.6 billion won.

Initially, AP Group had planned to redevelop the surrounding areas of AP Tower, but abandoned the plan to instead acquire assets in Samseong-dong, also in the Gangnam Business District.

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Article Details

Category: Economy

Markets: South Korea

Topics: Area Asset Meters Korean Tower Gangnam Square Adjacent Office Sale Properties

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-18 @ 15:02:26 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 230 words

Reading Time: 2 minutes read

Sentences: 17 lines

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Copyright Owner: © Korea Economic Daily

News ID: 27136657

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