Morgan Stanley buys Seoul building

Morgan Stanley, a global investment firm, has purchased the Hanuri Building in Seoul near the Seoul Police Department building, a real estate firm announced August 17.

The building was built by Seoul municipal government`s Urban Development Corporation for leasing, but the company decided to sell it to Morgan Stanley as it worried about a poor leasing contract environment. Morgan Stanley refused to disclose the amount it paid for the building. The real estate firm said that it would shortly lease the 15-story building.