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