US real estate deals drying up for Korean investors

Korean investment into US real estate has shot up since September amid pent-up demand and falling currency-hedging costs, with office allocations rising particularly quickly in that time despite Covid-related uncertainty. That is in sharp contrast to waning Korean flows into European real estate. But, as with logistics assets, office deals are now proving increasingly hard to come by in the US, with sellers favouring familiar local buyers even more than usual in the current enviro…