Recent Advisory Engagements
Recent advisory cases
A selection of M&A engagements Samjong KPMG has advised on — across sales, acquisitions, and fundraising — showcasing accumulated experience and expertise.
Sale of Hyundai Group Building — A Prime CBD Office in Seoul
| Company | Hyundai Group — Large office asset in Seoul's Jung-gu CBD (seller-occupied HQ) |
|---|---|
| Industry | Prime Office (CBD) |
| Scope | Sell-side advisory |
| Period | 2025 |
Lead Partner
Seunggu Yoon
Deal Type
Real Estate Sale
Counterparty
Asset management company (AMC) backed by blind-pool funds
Deal Size
Approximately KRW 450 billion
Summary
Advised Hyundai Group on the sale of a large office asset it owned and occupied in Seoul's Jung-gu CBD, closing the transaction at approximately KRW 450 billion.
Key Points
- Closed the transaction free of vacancy risk, leveraging the asset's nature as a headquarters building the seller continues to occupy
- Restructured the lease into a triple-net (NNN) structure, securing asset stability and enhancing returns from the investor's perspective
- Refined the deal structure around lease liability recognition and true-sale considerations in collaboration with KPMG's Audit division and Valuation team
- Marketed the asset efficiently to a curated investor pool centered on AMCs backed by blind-pool funds
Full Description
Samjong KPMG provided sell-side advisory services on the sale of a large office asset that Hyundai Group owned and occupied in Seoul's Jung-gu central business district (CBD). Launched in April 2025 with a closing targeted within the year, the transaction required closing without vacancy risk — given the asset's nature as a headquarters building the seller would continue to occupy — while simultaneously addressing key issues in lease structuring and accounting treatment.
Samjong KPMG restructured the lease into a triple-net (NNN) structure to secure the asset's stability and enhance returns from the investor's perspective, while refining the deal structure around key issues of lease liability recognition and true-sale treatment in collaboration with KPMG's Audit division and Valuation team. Samjong KPMG also composed the investor pool around asset management companies backed by blind-pool funds, enabling an efficient marketing process, and successfully closed the transaction at approximately KRW 450 billion.