Search results for bridge loan
Finance
KB Securities consortium named preferred bidder for Homeplus Yeongdeungpo store purchase
A consortium led by KB Securities was named the preferred bidder for the purchase of the Homeplus Yeongdeungpo store, it said on April 28. The consortium plans to establish a project financing investment vehicle in May and complete procedures for signing the main contract and paying the deposit. It then plans to raise a bridge loan in July to secure ownership and develop apartments on the site after approvals.
Finance
Shinhan Financial sees first urban housing supply result from PF normalisation
Shinhan Financial Group said on Tuesday it completed arranging 140 billion won in main project financing for the Gongdeok Station mixed-use development in Seoul through the Shinhan PF Normalisation Fund, jointly backed with Korea Asset Management Corp. The project had been halted at the bridge-loan stage in 2022 amid a property slowdown and rising construction costs. Shinhan said it plans to expand selective normalisation of risky PF sites to contain market risk.
Finance
NH NongHyup Bank launches NH Korea One Bridge Loan
NH NongHyup Bank said on Thursday it launched the NH Korea One Bridge Loan, an inclusive finance product aimed at strengthening financial access for underserved groups by applying a maximum interest rate of 6.8 percent. It targets eligible youths, people with disabilities, single-parent families and farmers whose qualifications can be verified through administrative agencies. The bank will use KCB estimated income for screening and offers up to 10 million won with preferential rates.