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NH Prime REIT to invest in NY’s 195 Broadway, Paris’ Tour Eqho

(NH Financial Group)
(NH Financial Group)

NH Prime REIT said Sunday it has decided to invest in landmark buildings in New York, Paris and Helsinki to expand its portfolio.

South Korean banking group NH Financial’s real estate investment trust affiliate plans to purchase beneficiary certificates of 195 Broadway, a 29-story building in New York City with luxury brand Gucci as a key tenant and Tour Eqho in Paris that has global accounting firm KPMG taking most of the floors.

It will invest in securities of Finland-based OP Financial Group’s headquarters in Helsinki as well.

According to NH Financial, it chose the three investments after reviewing around 13 prime commercial properties to expand its assets following its REIT affiliate’s initial public offering in December.

The decision comes in line with NH Prime REIT’s announcement to offer its first dividend yield ever. The dividend payout per share will be 127 won (11 cents) and distributed in August.

NH Prime REIT has so far invested in securities of four major office buildings here including Seoul Square and Samsung C&T’s office in Gangnam.

By Jung Min-kyung (mkjung@heraldcorp.com)
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