M&G makes statement $1bn South Korean office acquisition

M&G Centropolis

M&G Real Estate’s Asia Property fund has bought Centropolis Towers in Seoul in a joint venture with two South Korean pension funds for $1.04bn (£790m) – its biggest commercial real estate acquisition for five years.

The real estate fund management arm of M&G Investments has acquired the 26-storey twin tower office asset in the Korean capital from local developer CTCore in a deal expected to complete in September.

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