April 26, 2024

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[THE INVESTOR] A consortium formed by Korea Investment & Securities and Hana Asset Management has been named preferred bidder to acquire NASA headquarters building in Washington D.C., according to Maeil Business Daily on Dec. 6. 

Korea Investment and Securities will underwrite half of 400 billion won (US$341.41 million) funding and the rest will be financed by loans. 

The nine-story building with 56,200 square meter gross area has been home to NASA for the past 26 years and the lease will continue until 2029. 

KTB Investment and Securities has been seeking to take over the Washington property and was selected as a preferred bidder in October. However, it decided to pull out when the mortgage rates surged following the US presidential election. 

The consortium is expecting an annual rate of return between 6-7 percent. 

By Hwang You-mee (glamazon@heraldcorp.com)