Represented ARA Korea for the Sale of Pangyo Alpharium
2022.01.21.
Yulchon represented ARA Korea Limited (“ARA Korea”) in a transaction involving the sale of Pangyo Alpharium, located in Bundang, Sungnam-si, Gyeonggi-do (the “Property”) owned by a real estate investment trust (the “REIT”) operated by ARA Korea (the “Transaction”). The transaction amount was approximately 1TN Korean Won.
The Property was one of the most expensive and largest office buildings in the area, and Yulchon was able to successfully assist ARA Korea across all phases of the Transaction from the negotiating and drafting of the initial MOU, sale and purchase agreement and other ancillary agreements, as well as resolve complex issues between the parties involving the calculation of costs/profits of the Property as a condominium building, proxy payment of VAT, and maintenance of common areas.
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