South Korea purchases of U.S. commercial real estate are on fire. From The Real Deal, a blog: “Foreign investment in U.S. real estate declined in 2020, but South Koreans didn’t get the memo. Capital flows from South Korea rose 88% year-over-year to $5.2 billion, making it the 2nd-largest source of cross-border commercial real estate investment after Canada. Investment volume from Canadian investors declined by 10% to $12.4 billion in 2020, & investment from all other foreign countries fell by 38%, according to Real Capital Analytics.
The top foreign company by U.S. acquisition volume was Canada-based Brookfield Asset Management, which was involved in about $3.6 billion worth of deals for 48 properties. The 2nd biggest was South Korea’s National Pension Service, whose investments totaled about $2.4 billion. This included a 14.3 million-square-foot industrial portfolio the pension fund acquired with Stockbridge Capital Group & a stake in SL Green’s $2.3 billion One Madison office development in Manhattan.”
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