Lee & Ko Advised IGIS in Its KRW 140 Billion Acquisition of Private Student Housing Asset near University of Illinois (“Illini Tower”)

Dong Seok Woo, Ju Young Susie Im, Minkyung Lee, Paul J. Moon, Joon Tae Park, Dong Ha Hwang/Steve H. Oh, Yong Ji Lee 

Lee & Ko advised IGIS Asset Management Co., Ltd. in its USD 109.8 Million acquisition of a private student housing asset located near the University of Illinois Urbana-Champaign  through its real estate investment company within the meaning set forth in the Real Estate Investment Company Act. 

As housing costs increases in the last several years, particularly after the Covid-19 pandemic, student housing assets have attracted significant attention in the US real estate market. Illini Tower is a 207-unit asset with total area of 21,200㎡ and was particularly attractive as it is a private certified housing located within the University of Illinoi Urbana-Champaign campus. 

Lee & Ko, together with a US law firm, led each stage of the transaction and provided timely advice on all aspects of the same, including the transaction structure review, legal due diligence and contract negotiation. Having represented clients in their acquisition or investment in multiple US student housing assets, Lee & Ko’s Real Estate Practice Group is again recognized for its deep understanding and expertise in transactions of this type.