# South Korea’s Shinhan Card completes sale of Seoul office building for KRW800 bil

- **Source:** EdgeProp Singapore
- **Published:** 2026-10-05T10:27:25.000Z
- **Author:** Atiqah Mokhtar
- **Original:** https://www.edgeprop.sg/property-news/south-koreas-shinhan-card-completes-sale-seoul-office-building-krw800-bil
- **Topics:** Commercial & Industrial, Transactions & Deals, Investment & Capital Markets

## Featured rationale

The transaction signals continued core-investor demand for prime offices with stable long-term occupancy, despite rising interest rates and a highly selective investment market.

## AI summary

Shinhan Card sold Seoul’s Pine Avenue Tower A to MDM Asset Management for KRW800 billion through a sale-and-leaseback with a 10-year lease.

## Original article

Shinhan Card has completed the sale of Pine Avenue Tower A, a prime office building in Seoul, South Korea, for KRW800 billion (around $762 million).

Colliers advised on the deal. In an Oct 5 release, it called the sale "one of the largest transactions of its kind in 2026."

The South Korean credit card company divested the building, which serves as its headquarters, to MDM Asset Management through a sale-and-leaseback arrangement. MDM Asset Management is an investment firm under MDM Group, a South Korean real estate and finance conglomerate.

Read also: Prime office rents rise in 3Q2026 as AI companies expand Singapore footprints

Shinhan Card had acquired Pine Avenue Tower A for KRW521.5 billion in 2020 from the State Oil Fund of the Republic of Azerbaijan.

The company will continue using the building as its headquarters through a 10-year lease.

“Despite a highly selective investment landscape driven by rising interest rates, we successfully unlocked the true value of Pine Avenue Tower A by structuring a stable, long-term sale-and-leaseback that appealed directly to core investors,” said Sungwook Cho, Colliers’ managing director and head of capital markets and investment services for Korea.

Colliers has helped broker several office asset sales in Korea this year, including Eulji Twin Tower, Hana Insurance Building and Gangnam 358 Tower.

The sale of Pine Avenue Tower A brings the combined value of office deals the firm has advised on to KRW 3.42 trillion, according to the firm.

## Chinese translation

> Translation model: openai_codex_cli

### 韩国 Shinhan Card 以8,000亿韩元完成出售首尔办公楼

该出售是韩国今年规模最大的办公楼交易之一。

Shinhan Card 已完成出售位于韩国首尔的优质办公楼 Pine Avenue Tower A，成交价为8,000亿韩元（约7.62亿新元）。

Colliers 为该交易提供顾问服务。该公司在10月5日发布的新闻稿中称，这笔出售是“2026年同类交易中规模最大的交易之一”。

这家韩国信用卡公司通过售后回租安排，将作为其总部的该大楼出售给 MDM Asset Management。MDM Asset Management 是韩国房地产及金融集团 MDM Group 旗下的一家投资公司。

另读：随着 AI 公司扩大新加坡办公足迹，优质办公楼租金在2026年第3季上升

Shinhan Card 于2020年以5,215亿韩元从阿塞拜疆共和国国家石油基金购入 Pine Avenue Tower A。

该公司将通过一份10年租约继续把该大楼用作总部。

“尽管利率上升导致投资环境高度选择性，但我们通过构建稳定的长期售后回租安排，直接吸引核心投资者，成功释放了 Pine Avenue Tower A 的真实价值，”Colliers 韩国资本市场及投资服务董事总经理兼主管 Sungwook Cho 表示。

Colliers 今年已协助撮合韩国数宗办公资产出售，包括 Eulji Twin Tower、Hana Insurance Building 和 Gangnam 358 Tower。

据该公司称，Pine Avenue Tower A 的出售使该公司所提供顾问服务的办公楼交易总值达到3.42万亿韩元。