LAST DEPTH
Highlights of KB STAR REIT
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KB Financial Group’s first listed REIT through public offeringKB STAR REIT is the first publicly listed REIT by KB Financial Group
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Leveraging KB Financial Group’s NetworkKB STAR REIT will collaborate with KB Financial Group and global AMCs
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Incorporate local/global prime assetsKB STAR REIT will continuously endeavor to identify attractive assets backed by premier tenants
Stability
Stable office assets supported by premier tenants with long-term lease
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Regie des Batiments
- Asset
- North Galaxy Towers(NGT)
- Credit ratings
- AA (S&P)
- Leasing period
- December 2004~November 2031(27 years)
- Early termination clause
- None
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Samsung Electronics UK Ltd.
- Asset
- Samsung Europe HQ
- Credit ratings
- AA- (S&P)
- Leasing period
- December 2019~December 2039(20 years)
- Early termination clause
- After December 2034
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Citibank Korea
- Asset
- Citibank Center(CBC)
- Credit ratings
- AAA(NICE Rating)
- Leasing period
- July 2005~February 2029(24 years)
- Early termination clause
- After December 2025(up to 5 floors)
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Kumho Petrochemical
- Asset
- Signature Tower(22% of total NLA)
- Credit ratings
- A+(Korea Ratings)
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Samsung Life Insurance
- Asset
- Yeouido Finance Tower(12% of total NLA)
- Credit ratings
- AAA(Korea Ratings)
KB STAR REIT links inflation to rent,
and dividends are expected to increase due to value-add strategy and disposal profits
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North Galaxy Towers
Rent for NGT is linked to the increase of the Belgian
CPI(Health Index) annually -
Samsung Europe HQ
Rent for Samsung Europe HQ reflects the annual
Retail Price Index(RPI) increase of the UK on an
accumulative basis for every 5 years accordingly -
Citibank Center
Potential for value-add utilizing the remaining
Floor Area Ratio(FAR) Preferred stock
shareholders(KB STAR REIT) receive 45% of the
disposal profit as dividends -
Yeouido Finance Tower
Annual rent escalation of 3.0% Potential for value-add
utilizing the remaining FAR KB STAR REIT receive
40% of the disposal profit as dividends -
Signature Tower
Annual rent escalation of 2.5% Potential NOI growth
driven by rent increases at lease roll over
KB STAR REIT receive the disposal profit as dividends
- Preferred equity 60%
- Equity 40%