Funds managed by private credit manager SC Lowy have provided $150m (€129.6m) in financing for a completed luxury residential project in South Korea’s capital.
SC Lowy said its managed funds provided the majority of the total $250m for the apartment inventory financing transaction, with the remaining capital for the luxury development in Seoul’s Gangnam district syndicated across 22 South Korean institutional investors.
Soo Cheon Lee, co-founder and CIO of SC Lowy, said: “This transaction is a testament to both the depth of Korea’s institutional market and the confidence our partners place in our structuring and syndication capabilities. We’re proud to play a leading role in enabling sophisticated financing solutions for high-quality assets in Asia’s key urban centres.”
SC Lowy said the fundraising for its third Asia-Pacific private credit vintage is on track, with expectations to exceed its $500m target by the end of the year.
As previously reported, Abu Dhabi Investment Authority invested an unspecified amount in a South Korean real estate credit fund managed by SC Lowy.
“The success of our fundraising reinforces our growth strategy and commitment to delivering long-term value for our partners. With deep regional expertise and an innovative approach, we’re well-positioned to navigate complexity and provide tailored credit solutions that meet investors’ evolving needs,” the CIO added.
To read the latest IPE Real Assets magazine click here.
