Kasa Korea offering fractional ownership in another building

Shares in one floor of a 15-story building in Seocho, southern Seoul, are being offered by Kasa Korea next month. [KASA KOREA]

Kasa Korea, a real estate investment site, on Wednesday started marketing units in the second building to be traded on its platform.

It is offering shares in the 12th floor of a 15-story building in Seocho, southern Seoul, built in 2008.

The public offering for fractional ownership of the property will run from July 7 through July 15.

Each digital asset-backed security will be priced at 5,000 won ($4.5), and a total of 800,000 of them will be offered.

The dividend yield is expected to be around 3.01 percent, according to the company. Capital gains are also possible when the building is sold.

Kasa Korea “will provide various choices to investors through continuous public offerings of the third and the fourth buildings to act as a first mover in real estate securities,” said Yea Chang-wan, CEO of Kasa Korea in a statement.

BY JIN MIN-JI [jin.minji@joongang.co.kr]