[Edaily Marketin KIM SUNG-SOO Reporter] Aegis Asset Management has resolved an urgent liquidity issue involving a 580 billion won secured loan by leveraging the sale of the Homeplus Yeongdeungpo branch.

After repaying a large portion of the loan principal with the proceeds from the sale of the Yeongdeungpo branch, the company also succeeded in extending a loan due this month by one year, significantly easing its liquidity burden.

Loan Principal Reduced from 580 billion to 307.7 billion won

According to the financial investment industry on the 5th

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Aegis Asset Management repaid 272.3 billion won of the 580 billion won Homeplus secured loan due on the 5th of this month and extended the maturity of the remaining 307.7 billion won in principal by one year until August 5 of next year.

This loan was secured using four Homeplus stores—the Yeongdeungpo, Geumcheon, Dongsuwon, and Busan Centum City branches—as collateral. These assets are included in the “Aegis KORIF Private Real Estate Investment Trust No. 13,” managed by Aegis Asset Management.

The fund has operated under a structure where it purchases stores, leases them back to Homeplus, and uses the rental income to pay dividends to investors. The sale of the Homeplus Yeongdeungpo store played a decisive role in the extension of this loan.

Aegis Asset Management recently completed the sale (deal closing) of the Homeplus Yeongdeungpo store. The buyer was a consortium led by KB Securities, and the transaction price was in the mid-300 billion won range. The price per 3.3 square meters (pyeong) is reported to be in the mid-17 million won range.

Mitigating Risk on Homeplus’s Securitized Assets

Aegis Asset Management used 272.3 billion won—the proceeds from the sale of the Yeongdeungpo store after deducting various incidental costs—to repay secured loans. As a result, the principal balance of the loans decreased from 580 billion won to 307.7 billion won, and the lending syndicate decided to extend the maturity of the remaining loans by one year.

The market views this transaction as more than just a simple asset sale; it is seen as a case that has mitigated the financial risks associated with Homeplus’s securitized assets. This is because the reduction of the loan principal by nearly half has significantly lowered the debt burden and provided the company with more time to pursue additional asset management opportunities.

In particular, the Homeplus Yeongdeungpo branch (42 Dangsan-ro, Yeongdeungpo-gu, Seoul) is a key asset located in the immediate vicinity of Mullae Station on Subway Line 2 and has attracted market attention as residential development is planned for the site. The site is slated to feature six buildings ranging from three basement levels to 20 stories above ground, comprising 552 residential units along with office space, neighborhood amenities, and retail facilities.

An official from the financial investment industry stated, “Through the sale of the Homeplus Yeongdeungpo branch, Aegis Asset Management significantly reduced its loan principal and secured an extension of the maturity,” adding, “This is a meaningful transaction that has largely resolved the uncertainties surrounding the securitization of Homeplus-related assets.”