Yulchon advised FG Asset Management in connection with its investment in the 101 Avenue of the Americas building in the borough of Manhattan, New York City, U.S.A.
2013.11.04.
Yulchon’s Real Estate & Construction Group advised FG Asset Management in establishing a Korean real estate fund composed of multiple investors including the Korean Teachers’ Credit Union (the “Fund”). The Fund achieved its target of investing in the 101 AOA Building by acquiring 43.33% of the membership interests of a U.S. parent company (the “Membership Interests”) whose wholly owned subsidiary owned the 101 AOA Building. The Fund established a separate U.S. holding company through which to acquire the Membership Interests. The transaction was successfully completed on November 4, 2013.
In addition to providing legal advisory services with respect to the legal due diligence process and reviewing various transactional documents, Yulchon played an integral role in the successful consummation of the transaction by designing an optimized deal structure which minimized tax burdens on the client and the Fund investors, and was in compliance with the Financial Investment Services and Capital Markets Act.
Tae Jin Cha, Jin Seok Choi and Jae Hyong Wooof the Real Estate & Construction Group, Kyu Dong Kim and Joon Yung Jo of the Tax Group participated in this real estate transaction.
.JPG)
.JPG)
.JPEG)
