법무법인(유한) 율촌 | Yulchon LLC

Yulchon's Real Estate Team advised Hyundai Asset Management Co., Ltd. on the USD 347 million acquisition of an office building in Chicago. The deal involved acquisition financing in the amount of approximately USD 220 million. This first U.S. investment by Hyundai utilizes a three-tier investment structure and involves a joint venture with Hyundai's U.S. partner. For tax efficient investment, Hyundai managed a real estate investment fund that invests through a REIT, which holds a 98% participating interest in an intermediary SPC formed with Hyundai's joint venture partner. This intermediary SPC holds a 100% interest in a Delaware limited liability company, the purchaser of the building. For the stable operation and management of the investment, Hyundai utilized a foreign exchange hedge transaction as well as an interest rate swap transaction. The deal also involved extensive negotiation with an asset manager for the management and operation of the building. The deal was led by partners Bong Hee Han and Tae Jin Cha and associate Hui Yeon Kim from the Real Estate Team.