CapitaLand Investment closes new KRW200 billion value-add office fund

The Edge Singapore 08-29

CapitaLand Investment closed a new value-add office blind pool fund in South Korea with total equity commitment of KRW200 billion CapitaLand Investment Limited (CLI) has closed a new value-add office...

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class=\"meta\">\n\n\n2024-08-29 06:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/news/funds/capitaland-investment-closes-new-krw200-billion-value-add-office-fund?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS><strong>The Edge Singapore </strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CapitaLand Investment closed a new value-add office blind pool fund in South Korea with total equity commitment of KRW200 billion  CapitaLand Investment Limited (CLI) has closed a new value-add office...</p>\n\n<a href=\"https://www.theedgesingapore.com/news/funds/capitaland-investment-closes-new-krw200-billion-value-add-office-fund?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999004360.SGD","symbol_name":"Nikko AM Shenton Thrift Fund 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operating freehold commercial property, Golden Tower, from an unrelated third party for KRW440.8 billion ($428.5 million). CLI will also receive recurring fee income as the asset manager of Golden Tower.  The 20-storey property is located in the heart of Seoul’s Gangnam Business District (GBD).  Golden Tower is within walking distance to three subway stations - Seolleung, Samseong, and Samseong Central stations - and offers tenants premium views of Seonjeongneung Park, a popular cultural landmark.  In addition to offices, the property also has ancillary retail as well as food and beverage options.\nGolden Tower is set to undergo an asset enhancement initiative (AEI) comprising improvements to areas such as the lobby, facade as well as mechanical, electrical and plumbing components to improve the asset’s energy efficiency.  Post-AEI, the property is expected to achieve a Leadership in Energy and Environmental Design (LEED) Platinum certification.  The AEI is slated to start at the end of 2024 and be completed by 3Q 2025. \nWith the new value-add office fund, CLI now manages eight private funds in South Korea.  The fund’s acquisition of Golden Tower also expands CLI’s portfolio of diversified asset classes comprising offices, logistics facilities, lodging properties and data centres.  \nIn September 2023, CLI’s flagship regional core-plus fund, CapitaLand Open End Real Estate Fund, acquired a newly completed, Grade A logistics property in South Korea.  Through CLI’s wholly owned lodging business unit, The Ascott Limited and its lodging trust, CapitaLand Ascott Trust Hmn, CLI also has nine serviced residences and hotels with more than 2,400 units in Seoul, Busan, Cheongju, Incheon and Jeju.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2463299438"}