Commerz Real, the German property asset manager, has purchased the Choongmuro Tower in the South Korean capital Seoul for its open-end real estate fund Hausinvest Global. The purchase from Movie ABS, a subsidiary of Merrill Lynch, was the first by Commerz real in South Korea. The financial details were not disclosed.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
