Publity, Korean firms partner for office building acquisitions
Publity has teamed up with the South Korean investor Meritz Financial Group and the asset management firm Igis for the acquisition of German office properties. Joint investments “in the higher three-digit million range” are planned for the coming 18 months. As majority owner, Publity will place the acquired properties in its portfolio. Focus will be on office properties with high-quality facilities and value creation potential at good locations in German metropolitan areas. The first joint transaction was the purchase of Frankfurt’s “St. Martin Tower” for €130mn. Publity was advised in the signing of the partnership by the Seoul-based Blueriver Advisors.
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