Keppel REIT enters Seoul office market with acquisition of freehold CBD Grade A building for KRW 252.6 billion
(WorldNews Health)

Entry into Seoul which has a deep office market with favourable fundamentals Investment in DPU-accretive and higher yielding asset as part of portfolio optimisation Ability to leverage Keppel Capital`s on-the-ground presence and experience to seek opportunities for growth Keppel REIT Management Limited, as manager of Keppel REIT, wishes to announce that Keppel REIT1 had entered into an agreement with a value-add strategy fund managed by PGIM Real Estate2 to acquire an approximate 99.38% stake in T Tower, a freehold Grade A office building located in Seoul`s central business district (CBD), at an agreed property value of KRW 252.6 billion3 (approximately S$301.4 million4). The remaining 0.62%...