Overview
- Industry sources say Brookfield transferred the full 283 billion won in cash on Friday, closing a three-year fight over the failed sale.
- The sum covers the original 200 billion won deposit along with accrued interest and arbitration-related costs.
- The transaction unraveled after a Mirae-led REIT financing vehicle did not secure regulatory approval, leading to SIAC’s October ruling for a refund.
- Courts granted asset-freeze measures in Singapore and, on Nov. 18, the Seoul Southern District Court approved a provisional attachment on Brookfield’s IFC-holding entities.
- With the legal overhang removed, market watchers expect Brookfield to resume a sale or refinancing process, including a possible continuation fund, for the three office towers and retail mall after selling the Conrad Seoul hotel in 2024.