Dongseong-ro Parti: Effective Risk Mitigation & Marketing Led to Successful Sale
01 THE CHALLENGE
The Dongseong-ro Parti building in Daegu was recognised as a riskier asset due to the possible closing of its anchor tenant—youth-focused department store Lotte Young Plaza.
Despite its excellent location in Dongseong-ro’s business district, the Korean retailer recorded poor performance in this particular branch.
Cushman & Wakefield was approached by Thanos Corp. and Tein Corp. to provide investment management, risk mitigation, and marketing services.
02 THE SOLUTION
Cushman & Wakefield presented marketing directions to mitigate the closing risks by classifying the major long-term contractors, including CGV and Lotte Young Plaza.
Along with this, we suggested a package or split sale and preemptively prepared a solution for Young Plaza.
We also published a value-add concept and proposed a strategic plan for increasing the asset value.
03 THE RESULT
Cushman & Wakefield provided a comprehensive document containing investment management and value-add concepts to prospective buyers. The document highlighted the future value of the asset, which helped buyers recognize its potential.
We successfully completed the sale, with the buyer highly evaluating the potential of value add in the Young Plaza segment.
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