Lately Korean investors have been struggling to compete with local players for assets in popular US property segments such as logistics and office space.
The big Canadian pension fund sees promise in the increasingly favoured region, while its even larger peer CPPIB has just agreed a new logistics tie-up in Indonesia.
Pent-up demand among Korean asset owners for overseas property is resulting in a rush for logistics deals, but there is less interest in office assets, even in prime locations.
With the immediate market panic around Covid-19 having subsided, some investors are carefully spying out possible investing opportunities in real estate, says CBRE.
Investors in the region are looking to buy more logistics assets despite rising valuations, as the Covid-19 pandemic continues to push more people to buy goods via e-commerce.
Two funds and a JV that have exposures to China logistics assets have been closed this month amid the challenging environment. Demand on such assets will likely sustain.