Intrus IM: Realising An Ageing Building’s Potential Value
01 THE CHALLENGE
Intrus Investment & Management approached Cushman & Wakefield for the sale of Rosedale Building in Gangnam, Seoul. The building is located right next to Suseo Station on the Seoul Subway Line 3 and SRT Suseo Station.
Despite its accessibility to the national metropolis, the asset was valued relatively low due to the ageing structure and divided ownership.
02 THE SOLUTION
Although Rosedale Building was an asset with high potential value, it presented the challenge of divided ownership, which together with other issues, resulted in a complex scenario.
Cushman & Wakefield presented Intrus IM with a value-add plan to realise the asset’s potential value after considering our approach.
We also sought to significantly boost market interest in the asset through our marketing strategy.
03 THE RESULT
Cushman & Wakefield presided over two biddings and oversaw due diligence.
After a period of one year and seven months, Cushman & Wakefield completed the asset’s sale. In return, we received a Thank You letter from Intrus IM where they expressed their great satisfaction with our services.
The sale was our first successful deal with the National Pension Service, the largest investor in Korea.
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