The biggest trend in the domestic commercial real estate market this year are old investors returning to the market. The best example of this are Blackstone and Goldman Sachs. Blackstone acquired the Merrill Lynch Asia Real Estate Fund immediately after the global financial crisis, and while there was a Korea real estate investment organization, it was nearly dormant. Blackstone’s preferred rate of return couldn’t be met and the proportion of Korea in its portfolio was small. But this year, when Blackstone hired Kim Tae-rae, formerly of Angelo Gordon, as the lead for their real estate division, things appear to be changing. Kim has selected the division’s key personnel from places […]