Acquisition of 225 West Wacker Building in Chicago, USA
2013.05.15.
Yulchon advised Mirae Asset Global Investments Co., Ltd. in connection with acquisition of an office building located in Chicago, U.S.A. The acquisition price is in the amount of $218,000,000 and the deal involved acquisition financing in the amount of approximately $115,000,000. This first US investment by Mirae utilizes a two-tier investment structure. For tax efficient investment, Mirae’s Korean real estate investment fund invests through a US REIT, which holds 100% participating interest in a Delaware LLC, the purchaser and property owner of the building. The deal also involved extensive negotiation with local property manager and leasing agent for the stable management and operation of the building.
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