Ascendas buys fifth office asset in Seoul, sets up new fund
Jongro Place, a 14-storey Grade A office building in CBD, was recently acquired by the new fund for S$289.6m
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Kalpana Rashiwala
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Singapore
ASCENDAS' fully owned subsidiary Ascendas Asset Management Co Ltd has launched its fifth office fund in South Korea.
Ascendas Korea Office Private Real Estate Investment Trust 3 (Akopreit 3) is a seven-year closed private fund which holds Jongro Place, a 14-storey freehold Grade A office building in the Seoul CBD that was recently acquired by the newly minted fund for S$289.6 million.
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