[RFP] Korea Post plans $200 mn global housing investment

Sep 23, 2019 (Gmt+09:00)

1 Min read

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Korea Post’s savings arm plans to select two global real estate managers to invest $200 million, or 200 million euros, in the housing market in the US and Europe.

It is targeting multi-family, senior and student housing sectors with core and core-plus equity strategies, the state-run agency said in a request for proposal on Sept. 20.

Requirements for the mandate include a real estate fund which needs to raise at least $500 million as of its final close and has at least three professional managers with more than 10 years’ experience in real estate investment, as well as at least $5 billion AUM at the management house.

Proposals must be submitted by Oct. 4 at 6 p.m. (Korean standard time).

Korea Post plans to finalize the selection in November.

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By Hyun-il Lee

hiuneal@hankyung.com