18 November 2016 – Seoul, South Korea – Brookfield Property Partners, L.P. (NYSE: BPY; TSX: BPY.UN) announced today that a Brookfield-managed fund has completed the acquisition of the International Finance Center (IFC) in Seoul, South Korea.
IFC Seoul is a premier, mixed-use 5.4-million-square-foot complex consisting of three office towers, a 400,000-square-foot shopping mall and a 434-room Conrad hotel. The property is located in Yeouido, the city’s fastest growing business district.
Brian Kingston, CEO of Brookfield Property Partners said: “We continue to invest in high-quality assets in sectors and geographies with appealing market fundamentals, and IFC Seoul fits within that strategy. Our experience in managing large-scale, multi-use commercial complexes and our global tenant relationships will enable us to continue to attract leading firms and brands to IFC Seoul.”
The properties comprising IFC Seoul have all been developed within the last four years and are tenanted by leading multi-national corporations and global retailers. The Conrad hotel is a top performing luxury hotel and the only five-star hotel in the district. The properties are directly connected to the Yeouido subway station through an underground pedestrian walkway.
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Brookfield Property Partners
Brookfield Property Partners is one of the world’s largest commercial real estate companies, with approximately $66 billion in total assets. We are leading owners, operators and investors in commercial property assets, with a diversified portfolio that includes 149 premier office properties and 126 best-in-class retail malls around the world. We also hold interests in multifamily, triple net lease, industrial, hospitality, self-storage and student housing assets. Brookfield Property Partners is listed on the New York and Toronto stock exchanges. Further information is available at http://bpy.brookfield.com. Important information may be disseminated exclusively via the website; investors should consult the site to access this information.
Brookfield Property Partners is the flagship listed real estate company of Brookfield Asset Management, a leading global alternative asset manager with approximately $250 billion in assets under management.
Media contact:
Kerrie Muskens
Brookfield
Ph: +61 2 9322 2000
Mobile: +61 410 535250
Investor contact:
Matt Cherry
Brookfield
Ph: +212 417 7488
Mobile: +917 209 7343
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