HONG KONG--(BUSINESS WIRE)--
KKR, a leading global investment firm, and LIM Advisors, a leading
Asian-based multi-strategy investment group, announced the completion of
the joint acquisition of K Twin Towers, a prime commercial property in
Seoul's central business district.
KKR and LIM Advisors made the purchase through the acquisition of 100
per cent of the common equity in a trust managed by Vestas Investment
Management. Additional terms of the transaction were not disclosed.
Completed in 2012, K Twin Towers is a premium-grade commercial property
located in the Gwanghwamun precinct within the Seoul central business
district. It occupies more than 900,000 square feet [83,800 square
metres / 25,300 pyeong] across 22 floors of premium office and retail
space and has commanding views of the Gyeongbokgung Palace and the
Presidential Blue House. K Twin Towers spans two office towers occupied
by tenants that include major multinational and South Korean
corporations, financial institutions and law firms.
K Twin Towers received a Green 2nd Rating from the government-backed
environmental building certification system Green Standard for Energy
and Environmental Design ("G-SEED"). This is the second-highest rating
equating to ‘Excellent' status in South Korea.
Bryan Southergill, Director, Real Estate, at KKR Asia, said, "We are
very pleased to expand our real estate business to the South Korean
market and to collaborate with LIM Advisors to acquire one of Seoul's
top commercial buildings."
George W. Long, Chairman and Chief Investment Officer of LIM Advisors,
said, "We are delighted to have been able to source and negotiate this
investment and to work with our partner KKR to complete this major real
estate transaction in the heart of downtown Seoul."
Deutsche Asset & Wealth Management, Shin & Kim, and Deloitte advised
both parties on the transaction.
Notes to Editors
KKR is a leading global investment firm that manages investments across
multiple asset classes including private equity, energy, infrastructure,
real estate, credit and hedge funds. KKR aims to generate attractive
investment returns by following a patient and disciplined investment
approach, employing world-class people, and driving growth and value
creation at the asset level. KKR invests its own capital alongside its
partners' capital and brings opportunities to others through its capital
markets business. References to KKR's investments may include the
activities of its sponsored funds. For additional information about KKR
& Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com.
About LIM Advisors
LIM Advisors Limited is an Asian focused multi strategy investment
group, founded in 1995 by George W. Long, originally under the name Long
Investment Management Limited ("LIM"). LIM is based in Hong Kong and has
wide regional coverage, with additional research offices in Tokyo and
Beijing. LIM has extensive investment expertise across the region and
has been investing in Korea since the firm's inception.
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For KKR Asia
Leo Wood, +852-3768-4538
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