Samsung Sec to buy French office complex for $778 mn
Jun 09, 2019 (Gmt+09:00)
Samsung Securities Co. Ltd. is set to acquire an office building west of Paris for 691 million euros ($778 million), following a string of recent property investments in France by South Korean institutional investors estimated at around $2 billion.
On June 5, Icade, a French property developer and investor, announced that it had signed a preliminary agreement to sell the Crystal Park building in Neuilly-sur-Seine to a leading South Korean investor. It added that a final agreement is expected to be signed by the end of July.
South Korean sources identified the buyer as Samsung Securities which is expected to sell it down to other domestic investors.
The 44,000-square-meter building is leased to auditing and consulting company PwC and three other companies.
The office complex, renovated throughout recently, includes a 20,000-square-meter park.
Samsung Securities is among the aggressive South Korean brokerage firms investing in the French real estate and infrastructure market, including Mirae Asset Daewoo Co. Ltd., Korea Investment & Securities Co. Ltd. and Hana Financial Investment Co. Ltd.
By Hyunil Lee
hiuneal@hankyung.com
Edited by Yeonhee Kim
Apr 24, 2024 (Gmt+09:00)
Apr 21, 2024 (Gmt+09:00)
Apr 18, 2024 (Gmt+09:00)
Apr 16, 2024 (Gmt+09:00)
Apr 16, 2024 (Gmt+09:00)