ARA Asset Management Limited announce acquisition of Parc1 Tower II

ARA Asset Management Limited (ARA or the Group) is pleased to announce that its Korea subsidiary has completed the acquisition of Parc1 Tower II (the “Property”), a landmark office tower in Seoul, Korea, via a new private real estate fund managed by ARA Korea (REF) Limited.

  1. The transaction, valued at over KRW 1 trillion (approx. US$897 million), is slated to be the largest single asset transaction in Korea this year.
  2. Located within Yeouido Business District, the Property is one of the two newly-constructed landmark office towers within the Parc1 mixed-use complex designed by famed architect Lord Richard Rogers.
  3. Parc1 is rated Grade 1 in G-SEED (Green Standard for Energy and Environmental Design) with smart Building Energy Management System (BEMS). It boasts eco-friendly and energy savings systems and state-of-the-art facilities to provide an efficient work environment and safety to its tenants and the community.