Brookfield has initiated a financing effort to secure a $1.7 billion loan aimed at refinancing debt tied to its ownership of the International Finance Center (IFC) complex in Seoul. The move underscores ongoing capital restructuring in Asia’s commercial real estate sector.
- Brookfield is seeking a $1.7 billion loan to refinance debt on the Seoul IFC complex
- The original acquisition of the IFC complex occurred in 2019
- Refinancing aims to reduce borrowing costs and extend debt maturity
- Deal targeted for completion by Q2 2026
- Expected to influence investor sentiment in Asian commercial real estate
- Involves major international lenders, though identities remain undisclosed
Brookfield is actively pursuing a $1.7 billion loan facility to refinance existing debt associated with its stake in the International Finance Center (IFC) tower complex located in Seoul’s Gangnam district. The transaction, currently in advanced negotiation stages, reflects the firm’s strategy to optimize its balance sheet amid rising global interest rates and evolving investor appetite for core assets in Tier-1 Asian cities. The IFC complex, one of Seoul’s most prominent office developments, was originally acquired by Brookfield in a multi-billion-dollar deal completed in 2019. Since then, it has served as a flagship asset in the firm’s Asian real estate portfolio. The proposed refinancing would replace higher-cost debt with a longer-term, lower-coupon instrument, aligning with Brookfield’s broader capital allocation priorities. Market participants note that the scale of the requested loan highlights the continued demand for institutional-grade real estate debt in South Korea. With the refinancing expected to close in Q2 2026, the transaction could influence broader trends in cross-border investment flows into East Asian commercial property markets. Credit rating agencies are monitoring the deal closely, particularly given macroeconomic headwinds in the region. The outcome will affect not only Brookfield’s leverage profile but also investor confidence in high-profile urban real estate assets. Lenders involved are believed to include major international banks with established presence in Asia, though specific institutions have not been disclosed.