Yulchon Advised Morgan Stanley on Its First Korean Rental-Housing Investment
2024.08.22.
Yulchon advised Morgan Stanley (“MS”) on its first Korean rental-housing investment, effected through the purchase of shares in a fund managed by Gravity Asset Management (the “Gravity Fund”), a vehicle that owns private-housing assets in Gangdong-gu, Seoul.
Amid the recent trend of foreign capital entering Korea’s rental-housing sector, this transaction marks MS’s debut investment in the asset class and establishes a bespoke investment framework between MS and Gravity Asset Management.
Yulchon provided end-to-end advice on Korean rental-housing regulations, foreign-exchange procedures for inbound investment, the MS–Gravity investment agreement, amendments to the Gravity Fund articles of incorporation, full legal due diligence on the Gravity Fund and the underlying assets, and the share purchase agreement, delivering a seamless closing that aligns with both Korean regulatory requirements and MS’s global standards.
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