NPS to See Capital Gains of 700 Bln Won from Sale of Sony Center

Write : 2017-10-05 14:46:47 Update : 2017-10-05 15:12:24

NPS to See Capital Gains of 700 Bln Won from Sale of Sony Center

The National Pension Service(NPS) plans to sell Sony Center in Berlin, Germany.
German media reports Canadian real estate investor Oxford Properties Group and New York-based Madison International Realty will buy the landmark building from NPS for one-point-one billion euros.  That's one-and-a-half trillion won, or one-point-three billion U.S. dollars.
NPS is expected to realize a capital gain of more than 700 billion won from the sale, expected to be finalized within the year.
The pension service bought the Sony Center from Morgan Stanley in June 2010 for 570 million euros, or some 773 billion won.
Located at the Potsdamer Platz in Berlin, the Sony Center houses eight office buildings. It houses the offices of the German railroad and Facebook Germany, as well as hotels, stores and restaurants.

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