Hana Financial Investment ramps up overseas property investment

2018.06.04 13:37:45 | 2018.06.04 15:47:23

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South Korea’s Hana Financial Investment Co. is stepping up efforts to expand its global footprint, making real estate investments in France, Japan and the United States in the past month alone.

According to industry sources on Monday, the investment house bought a 60 billion won ($56 million) stake in the 140 billion won office building of a local telecommunications company in Saint-Denis, a northern suburb of Paris. It also arranged a 120 billion won investment deal for Hitachi Solutions tower in Tokyo and a 65 billion won office building investment in Manhattan, New York.

The Korean company unveiled its global ambitions last September with the launch of a new global business department, which brought together 30 experts from various backgrounds to identify investment opportunities overseas. Its chief executive Lee Jin-gook, who took the helm in March 2016, has also been taking action to expand the company’s global portfolio.

This month, the company is expected to close transactions for two office buildings, one in Washington D.C. and another in the mid-west U.S., and arrange an investment deal in logistics facilities, according to a company official.

The firm’s push into real estate is also being carried out through Hana Alternative Asset Management. The affiliate raised $300 million for the new Marriott EDITION hotel, which is due to be completed this month, and launched funds investing in the headquarter units of NASA and DreamWorks Animation in the U.S. last year.

By Yoon Jin-ho and Kim Hyo-jin

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