The yearly dividend is projected to be above 6 percent, according to NH Investment & Securities.
Singaporean properties investment firm Alpha Investment Partners has owned the real estate through an 800 billion-won purchase deal from Morgan Stanley Real Estate Investing since 2011.
With gross floor area of 132,800 square meters, the 23-story building with two basement floor houses offices for foreign business entities including Mercedes-Benz Korea, Siemens Seoul and WeWork Korea. Its vacancy rate stood at around 2 percent as of August, according to real estate company Savills Korea.
By Son Ji-hyoung