Keppel REIT Acquires Seoul T Tower from PGIM Real Estate
Posted on 04/23/2019
Keppel REIT Management, a Singapore listed company, signed a deal to acquire a 28-storey office in Seoul for 252.6 billion KRW from PGIM Real Estate, a unit of Prudential Financial, Inc. The building is the T Tower, which is located in Seoul’s central business district.
Keppel REIT will be acquiring a 99.38% stake in the building. Keppel Capital will purchase the remaining 0.62% stake in the property. Keppel Investment Management Co., Ltd will be appointed the local asset manager for the property. Keppel REIT Management is part of Keppel Capital.