Kwanghee Development-oriented Self-administered REIT Inc. (KOSE:A140910) signed a definitive agreement contract to acquire a part of Korail member apartment site land on 2-13 Third St. Dangsan-dong, Yeongdeungpo-gu, Seoul for KRW 37.9 billion on November 23, 2011. The transaction was resolved by the Board of Directors of Kwanghee Development on November 23, 2011. The deal is expected to close on May 22, 2012. As on May 22, 2012, the scheduled acquisition date has been changed from May 22, 2012 to August 22, 2012. As on August 22, 2012, the scheduled acquisition date has been changed from August 22, 2012 to October 15, 2012. On October 15, 2012, the scheduled acquisition date was extended, the new scheduled acquisition date is still to be decided.

Kwanghee Development-oriented Self-administered REIT Inc. (KOSE:A140910) completed the acquisition of a part of Korail member apartment site land on 2-13 Third St. Dangsan-dong, Yeongdeungpo-gu, Seoul on October 17, 2012. The borrowing of funds and payment for the land was completed hence the deal was completed.