Greystar, Patrizia secure Korea Post’s $100 mn housing investment
Dec 13, 2019 (Gmt+09:00)
US-based Greystar Real Estate Partners and Germany’s Patrizia AG have won a $100 million mandate from Korea Post to invest in the housing sector, according to sources with knowledge of the matter on Dec. 13.
Korea Post will commit $50 million each to the two management companies in its first investment in funds targeting multi-family, senior and student housing assets in developed countries.
The mandate size was halved from the originally planned $200 million for an undisclosed reason.
The housing sector in Europe and the US is grabbing the attention of South Korean institutional investors as a defensive asset in a down cycle and as part of an effort to diversify their real estate portfolios.
Patrizia manages $42 billion of assets, while the US-based Greystar has $36 billion in assets.
By Chang Jae Yoo
yoocool@hankyung.com
Apr 24, 2024 (Gmt+09:00)
Apr 21, 2024 (Gmt+09:00)
Apr 18, 2024 (Gmt+09:00)
Apr 16, 2024 (Gmt+09:00)
Apr 16, 2024 (Gmt+09:00)