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Case Study
DAEGU HOSU BUILDING
C&W were appointed to dispose of this property located in Daegu city.
- Daegu Hosu
The Challenge
Wooridul Hospital, owner and anchor tenant of Daegu Hosu Building, is a renowned hospital specializing in spinal surgery and has 5 hospitals across the nation. In 2007, Wooridul Hospital decided to sale and lease back of the Daegu asset(‘Hosu Building’) and appointed C&W for the disposition this asset. While C&W Korea secured the exclusivity for the disposition of the asset, the challenge we faced, considering the inactive real estate market situation in Daegu, was to find the right purchaser who is able to accept the lease back condition.
Hosu Building was constructed in December 2006 on a 3,106sqm site, with a GFA of 42,967sqm, 20 floors above ground and 6 floors below. This building is the largest piece of real estate in Daegu and located right next to a national park providing comfortable and pleasant working environment to the users. The majority of the building is occupied by Wooridul Hospital, while some floors are leased to others small tenants.
Our sales advisory services included the market analysis, price valuation, marketing, contractual advisory, bid process administration.
Our Impact
Pre-marketing and preferred deal structure evaluation – while we softly tapped on potential purchaser, we gathered feedback about the preferred deal structure that will maximize the price of the property and at the same time secure the client’s requirement. After 1 month of preparation, we undertook a closed bid strategy in selling this property. While we invited only the most probable and competitive purchaser, we also conducted individual negotiation process to intensify the competition.
The Outcome
The closed bid strategy enabled us to successfully complete the sale within a short period, while maximizing the sale price, and secure the client’s requirement.
C&W’s investment service team has continued to work closely with client from the initial phase of the disposition, and has been an integral part of the client’s decision making process.
For more information contact:
+82 2 3708 8818
Andy.choi@ap.cushwake.com
+82 2 3708 8813
June.won@ap.cushwake.com
+82 2 3708 8843
Daniel.kang@ap.cushwake.com
Services:
Investment Sales
| For more information contact: Andy Choi 82 2-3708 8818 andy.choi@ap.cushwake.com |
Services: Investment Sales 
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