Top South Korean firms Bae, Kim & Lee and Yoon & Yang have advised the seller and buyer, respectively, in the acquisition of Donuimun D Tower in central Seoul by NH Nonghyup REITs Management for $640 million from Mastern Asset Management.

The deal is the second-largest commercial property transaction in South Korea this year, following the landmark sale of Samsung Fire & Marine Insurance's headquarters building for $746 million. Mastern finalized the sale on Nov. 20, four months after NH REITs was initially selected as the preferred bidder in July.

The Yoon & Yang team comprised partners Young Woo Park, Jae Ryun Cho, and Eun Chul Choi, and associates Hyeji Shin, Yea Eun Hwang, and Kyu Min Lee.

On the sell-side, Bae, Kim & Lee's real estate team on the deal was led by partner Chiyoung Song and associate Jaehwa Park.