YOON&YANG

This is a transaction to purchase Donuimun D Tower, the head office building of DL Group, one of the Korean conglomerates for KRW 859.3 billion. Yoon & Yang successfully completed the transaction as the legal advisor of buyer NongHyup REITs Management by (1) advising on attracting potential bidders and devising deal structures; (2) drafting and negotiating purchase agreements; (3) preparing and negotiating lease and sublease agreements; (4) preparing and negotiating loan agreements (for the purpose of procuring sales proceeds); and (5) advising on all aspect of general issues.

This is a significant transaction in that Donuimun D Tower is an office building that has attracted high interests from strategic investors (SI) and foreign investors who potentially market it to the domestic and global companies that want to relocate their headquarters to downtown Seoul because the building has the advantage of being located close to Seodaemun Station on Subway Line 5 of Seoul Metro adjacent to downtown Seoul. Also, the transaction itself is expected to lead real estate market changes in Korea.

[press coverage]

Duo guides on Korea’s second largest real estate buy in 2024 | Law.asia