Lucent Block, final confirmation of sale of 3rd ‘Daejeon Startup Space’… cumulative return of approximately 15%

– 64.3% of total voting rights participated, 96.8% approval rate, sale started at 920 million won

– First sale case of regional real estate piece investment… Cumulative return of approximately 15%, final return to be announced separately

– About 60% of all contest participants are Daejeon citizens… Proving the feasibility of a regional investment model

Lucent Block (CEO Heo Se-young), the operator of the real estate token securities (STO) platform 'Soyou', announced on the 10th that the sale of the third public offering asset 'Daejeon Startup Space' was finalized as a result of the general meeting of beneficiaries.

Lucent Block held a beneficiary meeting through its app for 8 days from the 2nd to the 9th. Out of the total 182,000 voting shares, 64.3% participated in the electronic voting, and 96.8% of them voted in favor, so Daejeon Startup Space is scheduled to be sold for 920 million won (excluding VAT). The sale process will be jointly handled with Kyobo Asset Trust, the issuer of the asset's securities.

Daejeon Startup Space, located in Eoeun-dong, Yuseong-gu, Daejeon, is a three-story building with a total floor area of approximately 130 pyeong, consisting of shared offices and cafes for young entrepreneurs. It is a specialized startup area in a university district adjacent to KAIST and Chungnam National University, and is considered the first Tipstown development site outside the metropolitan area, so it has attracted great interest from investors since the public offering stage, recording a sellout on the first day of the public offering.

The asset has consistently provided a dividend yield of 5% per annum since its public offering in December 2022. The cumulative yield, including dividend income and capital gains, is expected to be around 15% as of the completion of the sale. The final yield will be separately disclosed through the ownership app after the sale process is completed.

With this, Daejeon Startup Space has been recorded as the first sale case among the Lucent Block public offering assets. In particular, approximately 60% of the total public offering participants are Daejeon citizens, and it is interpreted as a case showing the feasibility of a regional investment model in that assets in which local investors participated have actually been sold.

“The successful sale of an asset with the direct participation of local investors is an example of the potential of a regional real estate investment ecosystem,” said Heo Se-young, CEO of Lucent Block. “We will continue to create a virtuous cycle that prioritizes investor profits throughout the entire process from public offering to operation and sale.”