▶ Advises on sale of 'Hugel Building,' located a 3-minute walk from Cheongdam Station… forms a 3-firm consortium with Cushman & Wakefield and GenstarMate
▶ "Entire building projected to be vacant by year-end, making it the optimal product for enterprises seeking a Gangnam-area HQ"
▶ RSQUARE Capital Markets Division fully mobilizes its census-surveyed DB and corporate networks to unearth prospective buyers
RSQUARE (CEO: Lee Yong-gyun), a comprehensive commercial real estate service firm, announced on the 11th that it has officially commenced disposition advisory services for the 'Cheongdam Hugel Building (17 Samseong-ro 133-gil, Gangnam-gu, Seoul),' currently held by Koramco Asset Management.
RSQUARE has formed a three-firm consortium alongside Cushman & Wakefield and GenstarMate to jointly handle this marketing mandate. The consortium will actively start identifying prospective purchasers and executing the sale process starting this month.
The Cheongdam Hugel Building is an office property featuring 2 underground floors and 8 above-ground floors, completed in January 2003. It spans a land area of 803.8 $m^2$ (approx. 243 pyeong) and a gross floor area (GFA) of 4,307.5 $m^2$ (approx. 1,303 pyeong). Situated just a 3-minute walk from Cheongdam Station, the asset sits in a core location within Cheongdam-dong, surrounded by luxury commercial districts and a robust business infrastructure, rendering it a highly sought-after, institutional-grade asset. Located within a residential zone, it boasts exceptional site utilization relative to land area, alongside a high net-to-gross floor area ratio (efficiency ratio) of 64%, delivering outstanding space optimization.
In particular, this mandate is projected to serve as a highly lucrative acquisition opportunity for corporations seeking their own headquarters within the Gangnam Business District (GBD)—specifically end-user corporate entities. While the biopharmaceutical company Hugel currently occupies the entire property, it is scheduled to relocate to its newly constructed headquarters at the end of this year. Capitalizing on the advantage of a guaranteed 100% lease termination and vacancy clearance, a buyer can seamlessly utilize the entire building as a corporate headquarters (HQ) immediately post-acquisition, or maximize its capitalization rate (Cap Rate) by remodeling the lower floors into high-end retail or medical facilities.
The Capital Markets Division of RSQUARE plans to extensively discover prospective Strategic Investors (SI) with headquarters acquisition needs by leveraging its proprietary, census-surveyed database (DB) and its nationwide offline corporate network. Coupled with the global and institutional investor networks commanded by the consortium partners, this framework is expected to significantly accelerate the entire disposition lifecycle.
"As the supply of commercial real estate inventory expands recently, a distinct 'Flight to Quality' momentum is accelerating, where capital and demand heavily concentrate on core Gangnam assets possessing exceptional locations and strong fundamentals," stated Yong-seok Lee, Head of the Capital Markets Division at RSQUARE. "As the Cheongdam Hugel Building is a prime, standalone asset with vacancy clearance confirmed by year-end, we will secure the optimal buyer and drive this sale to a successful closing based on our precise data analytics and strategic targeting capabilities."
Meanwhile, RSQUARE’s transaction advisory business continues to scale rapidly under the dual pillars of the Capital Markets Division and the Investment Advisory Division. Moving beyond small-to-medium-scale real estate transactions where it has traditionally commanded structural strengths, the Capital Markets Division is consistently widening its mandate pipeline into core prime assets like the Cheongdam Hugel Building, steadily reinforcing its presence within the capital markets through robust synergy with the Investment Advisory Division.
▶ Advises on sale of 'Hugel Building,' located a 3-minute walk from Cheongdam Station… forms a 3-firm consortium with Cushman & Wakefield and GenstarMate
▶ "Entire building projected to be vacant by year-end, making it the optimal product for enterprises seeking a Gangnam-area HQ"
▶ RSQUARE Capital Markets Division fully mobilizes its census-surveyed DB and corporate networks to unearth prospective buyers
RSQUARE (CEO: Lee Yong-gyun), a comprehensive commercial real estate service firm, announced on the 11th that it has officially commenced disposition advisory services for the 'Cheongdam Hugel Building (17 Samseong-ro 133-gil, Gangnam-gu, Seoul),' currently held by Koramco Asset Management.
RSQUARE has formed a three-firm consortium alongside Cushman & Wakefield and GenstarMate to jointly handle this marketing mandate. The consortium will actively start identifying prospective purchasers and executing the sale process starting this month.
The Cheongdam Hugel Building is an office property featuring 2 underground floors and 8 above-ground floors, completed in January 2003. It spans a land area of 803.8 $m^2$ (approx. 243 pyeong) and a gross floor area (GFA) of 4,307.5 $m^2$ (approx. 1,303 pyeong). Situated just a 3-minute walk from Cheongdam Station, the asset sits in a core location within Cheongdam-dong, surrounded by luxury commercial districts and a robust business infrastructure, rendering it a highly sought-after, institutional-grade asset. Located within a residential zone, it boasts exceptional site utilization relative to land area, alongside a high net-to-gross floor area ratio (efficiency ratio) of 64%, delivering outstanding space optimization.
In particular, this mandate is projected to serve as a highly lucrative acquisition opportunity for corporations seeking their own headquarters within the Gangnam Business District (GBD)—specifically end-user corporate entities. While the biopharmaceutical company Hugel currently occupies the entire property, it is scheduled to relocate to its newly constructed headquarters at the end of this year. Capitalizing on the advantage of a guaranteed 100% lease termination and vacancy clearance, a buyer can seamlessly utilize the entire building as a corporate headquarters (HQ) immediately post-acquisition, or maximize its capitalization rate (Cap Rate) by remodeling the lower floors into high-end retail or medical facilities.
The Capital Markets Division of RSQUARE plans to extensively discover prospective Strategic Investors (SI) with headquarters acquisition needs by leveraging its proprietary, census-surveyed database (DB) and its nationwide offline corporate network. Coupled with the global and institutional investor networks commanded by the consortium partners, this framework is expected to significantly accelerate the entire disposition lifecycle.
"As the supply of commercial real estate inventory expands recently, a distinct 'Flight to Quality' momentum is accelerating, where capital and demand heavily concentrate on core Gangnam assets possessing exceptional locations and strong fundamentals," stated Yong-seok Lee, Head of the Capital Markets Division at RSQUARE. "As the Cheongdam Hugel Building is a prime, standalone asset with vacancy clearance confirmed by year-end, we will secure the optimal buyer and drive this sale to a successful closing based on our precise data analytics and strategic targeting capabilities."
Meanwhile, RSQUARE’s transaction advisory business continues to scale rapidly under the dual pillars of the Capital Markets Division and the Investment Advisory Division. Moving beyond small-to-medium-scale real estate transactions where it has traditionally commanded structural strengths, the Capital Markets Division is consistently widening its mandate pipeline into core prime assets like the Cheongdam Hugel Building, steadily reinforcing its presence within the capital markets through robust synergy with the Investment Advisory Division.