Income-producing Korean DT asset

테스트

Income-producing Korean DT asset leased to Starbucks, with seller rollover alignment and improving regional momentum.

High-credit tenant (Starbucks Korea / SCK)Improving area momentumSeller reinvestment / 10% rollover
Remaining lease term
12.2Y
as of Mar 2026
Project IRR
6.4%
including exit
Building / GFA
3F | 719.93 sqm
Parking
49 spaces
Accepted tokens
USDT / USDC
Sale window
Mar 22, 2026 - Mar 31, 2026
On-chain lifecycle
Pending issuance

Source note: attached building register, building registry, lease extract, site plan, cadastral maps, and land-use plans.

Property image 1
Overview

Trust the asset first

The early screens answer whether the asset is real, whether the lease economics are credible, and whether the rent story is supported by actual operating history.

Asset facts
Address서울시 강남구
Site area1,724 sqm
Gross floor area719.93 sqm
Building footprint249.97 sqm
UseNeighborhood living facility
StructureReinforced concrete
Use approval2016
Parking49 spaces
Lease facts
Tenant위블록
DepositKRW 300,000,000
Rent13% of monthly net sales excluding VAT
Payment day15th of each month
Leased areaEntire building
Sale windowMar 22, 2026 - Mar 31, 2026
Accepted tokensUSDT / USDC
Indicative token price1 USDT
Year 1 actual rent
USD 144,205
KRW 209,097,469
FX applied: KRW 1,450 / USD
Year 2 actual rent
USD 154,611
KRW 224,186,436
FX applied: KRW 1,450 / USD
YoY growth
+7.2%
Actual rent history

This chart shows the actual opening-year rent history disclosed in the proposal and keeps the FX note visible with the graph.

Source note: attached building register, building registry, lease extract, and actual rent history.

Tenant

Trust the tenant with charts, not adjectives

This section converts 'high-credit tenant' from a marketing claim into a chart-backed tenant story using market share, sales scale, and store network depth.

Market share
13.1%
2024 cafés / bars value share
Sales
KRW 3.24tn
2025 vs KRW 2.59tn in 2022
Stores
2,115
South Korea footprint at end-2025
Market leadership

2024 cafés / bars market share view.

Revenue growth

Sales trend from KRW 2.59tn in 2022 to KRW 3.24tn in 2025.

Store count

Footprint depth strengthens the operating thesis around Starbucks Korea.

Third-place brand positioning supports repeat traffic beyond pure convenience demand.
Standalone DT format combines visibility, parking, and queue handling in a way inline retail often cannot.
South Korea is Starbucks' third-largest market globally by store count as of end-2025.
Tenant market-share dataset · 2024 cafés / bars market share source
Starbucks Korea annual disclosures · sales trend and scale
Store count reference · end-2025 footprint
Thesis

Why this asset is special

The proposal frames the location as more than a generic café. It combines a third-place brand, a standalone drive-through format, and improving area momentum with seller alignment.

Format
Standalone DT
visibility + parking + queue management
Narrative
Third-place demand
repeat-stop behavior instead of pass-through only
Alignment
10% rollover
seller keeps exposure post-close
Operations
15%
headline project return view
The first screen should avoid overclaiming precise lease tenor until lease-summary disclosure is finalized.
Seller rollover creates a cleaner alignment story than a full cash-out exit at closing.
The asset thesis is stronger as a destination DT format than as a generic inline retail box.

Source note: lease-summary disclosure, tenant positioning, and operating-history screens should be consistent with the data room packet.

Structure

Source & use and seller alignment

This block explains how the public raise, seller rollover, and purchase structure fit together before the investor reaches checkout.

Total capitalization
USD 4,954,797
Purchase price
USD 4,758,621
Seller rollover
USD 474,790
Rollover share
10.0% of equity
Structure breakdown
Purchase priceUSD 4,758,621
Closing / setup bufferUSD 196,176
mock buffer until model upload
Seller rolloverUSD 474,790
Public RBT raiseUSD 4,480,007
derived public raise view
Structure highlights
Source & Use should be visible before checkout.
Seller 10% rollover is a headline governance/alignment point.
Closing view should reinforce a clean-title-at-closing narrative without overloading the hero.
Seller rollover aligns the seller with post-closing performance.
The public page should keep the capital stack readable first, then send detailed legal/title mechanics to documents or drawers.

Source note: proposal capitalization summary, rollover memo, and closing-structure review.

Cash Flow

Understand the return path

The return path should separate recurring operating cash flow from exit value so investors can see what is supported by current operations and what depends on terminal assumptions.

Project IRR (incl. exit)
6.4%
Project IRR (excl. exit)
3.8%
RBT holder IRR (net)
5.5%
RBT holder IRR (gross)
6.3%
Equity multiple
1.73x
Terminal cap rate
3.75%
Projected project cash flow

Recurring project cash flow is shown separately from terminal value to keep the model legible.

Projected RBT holder cash flow

This track focuses on the holder view rather than the project-level operating stream.

Use one chart for project cash flow and a separate chart for RBT holder cash flow.
Where the detailed underwriting workbook is not loaded yet, the year-by-year projection below is shown as a mock interpolation around the disclosed IRR metrics.

Source note: IRR headline metrics from proposal. Detailed annual curves are mock until the underwriting model is attached from admin.

Area

Area momentum and access

The area section should support the message that the demand story is improving, while being explicit that this is driven by living/staying population, tourism, and public support rather than resident count alone.

Living population
1.06m
Jun 2024
Registered population
~62k
resident base
National support
> KRW 10bn / yr
expected from 2027
Gyeonggi plan
KRW 76bn
2025 response plan
Road accessTourism demandDevelopmentDocuments
Road access and tourism-demand map

Keep this area reserved for Seorak IC access, tourism-demand mapping, nearby destinations, and legal/cadastral overlay references.

Access routes
Primary road accessSeorak IC / Route 60 / Route 37
Tourism map contextGapyeong tourism cluster
Planning overlaysCadastral + land-use + regeneration context
Nearby destinations
Demand clusterNamiseom / Petite France / Cheongpyeong leisure belt
Usage patternWeekend stopover + destination traffic
Why DT winsParking and convenience outperform inline formats on this corridor
Gapyeong's living population exceeded 1.06 million in June 2024 versus a registered population of roughly 62 thousand.
Official data placed Gapyeong second among 89 depopulation regions in the June 2024 staying-population multiplier and third in September 2024.
Gapyeong's 2033 urban regeneration strategic plan was approved in January 2025, and Seorak-myeon was included in the county's regional specialized cultural zone.
After its March 2025 border-area designation, Gapyeong expects tax benefits and more than KRW 10bn of annual national support from 2027.
Gyeonggi Province's 2025 response plan totals KRW 76bn and focuses on living-population expansion, jobs, tourism infrastructure, and residential-environment upgrades.
Gapyeong tourism map (EN)
Road / cadastral public documents
Living population / depopulation region sources
Docs

Documents and diligence trail

Documents should feel like a diligence trail, not a download dump. Show what is available now, what is redacted, and what is still being prepared.

Available now
Building registry / title excerpt

Headline legal title information for public review.

Available
Building register

Official building facts and use approval summary.

Available
Cadastral maps

Site and land-boundary context.

Available
Land-use plan

Planning and zoning context.

Available
Lease agreement (redacted extract)

Headline economics first, detailed terms via controlled disclosure.

Available
DD reports coming soon
Market DD
Coming soon
Valuation DD
Coming soon
Legal DD
Coming soon
Physical DD
Coming soon
Financial DD
Coming soon
Disclosure policy

Public page rule: disclose headline economics first, move full lease detail into a redacted data-room extract, and keep the sticky CTA focused on Invest only.

Attached site plan
Attached building register
Attached building registry
Attached cadastral maps
Attached land-use plans
Series Manager
0x078f2989284118884BCe471B1C91B3109D65661f
RBT Asset Contract
0xC2e0B050954412BD6129e1f77454d5745f2FE2C4
Interest Router
0x3c6B9AD41aD6f2729c8a38CbE653E714341cd10b
Redemption Router
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