Kohlberg Kravis Roberts & Co.
) gained 1.4% following the news of its acquisition of K Twin
Towers, a prime commercial property in Seoul, in collaboration with
LIM Advisors Limited, the multi strategy investment group focused
on Asia. New York-based Kohlberg Kravis and LIM Advisors completed
the transaction by acquiring 100% common equity in a trust managed
by Vestas Investment Management, the Seoul-based real estate funds
However, other terms and conditions of the transaction have not
been disclosed. Deutsche Asset & Wealth Management, Shin &
Kim, and Deloitte served as the legal advisors of both the parties
in carrying out the transaction.
Located in Seoul's central business district, K Twin Towers
occupies over 900,000 square feet spreading across 22 floors of
premium office and retail space. Moreover, it offers elegant views
of Gyeongbokgung Palace and the Presidential Blue House. K Twin
Towers includes offices of financial institutions, law firms,
multinational and South Korean corporations. It was crowned with a
Green 2nd Rating by the government-backed environmental building
For Kohlberg Kravis, this purchase is a nice attempt to expand its
real estate footprint in South Korean market. Again, for the Hong
Kong-based LIM Advisors, this acquisition has opened up the chance
to work with a highly professional and top class investment firm
like Kohlberg Kravis and obviously, to increase its investment in
South Korea, where it has been investing since its inception.
Kohlberg Kravis currently carries a Zacks Rank #3 (Hold).
Better-ranked investment managers include
Cohen & Steers Inc.
Woori Finance Holdings Co., Ltd.
Ameriprise Financial, Inc.
). While Cohen & Steers and Woori Finance Holdings sport a
Zacks Rank #1 (Strong Buy), Ameriprise Financial holds a Zacks Rank
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