Korean institutional investors snub US real estate

Korean investors may not return to the US commercial real estate market until 2029, as an increasing number of them wrestle with defaults on loans they have extended, according to a leading lawyer in the region. “It’s going to be three to five years before Korean [institutional] investors are interested in the US again, and the structure of how they do deals there may have to change,” said Spencer Park, special counsel in the Seoul office of Milbank LLP and a member of the firm’s …