KRW228.9 billion acquisition of a 50% interest in The Pinnacle Gangnam by Mapletree North Asia Commercial Trust Management Ltd.

A&G News 12 October 2020

Allen & Gledhill advised Mapletree North Asia Commercial Trust Management Ltd., as manager of Mapletree North Asia Commercial Trust (“MNACT Manager”), on the KRW228.9 billion (approximately S$267.6 million) acquisition of a 50% interest in IGIS Qualified Investment Type Private Placement Real Estate Investment Trust No. 6 (“Target REF”).

The Target REF beneficially owns (through its trustee KB Kookmin Bank Co., Ltd.) 40 strata units in The Pinnacle Gangnam, a 20-storey freehold strata building with six underground floors in Seoul, Korea.

Advising the MNACT Manager was Allen & Gledhill Partner Chua Bor Jern.