RCA Insights

Canadians Lead Buyers of US Real Estate, Korean Players #2

By on February 17th, 2021

Investors from Canada were the leaders for cross-border investing into the U.S. commercial property market in 2020, with South Korean investors jumping into second place from fourth in 2019, the latest edition of RCA’s US Cross-Border Investment Compendium shows.

Canadian groups plowed $12.4 billion into U.S. commercial real estate, down 10% from 2019. South Korean spending ratcheted up 88% to reach $5.2 billion. German investors pulled back their outlays by almost a third, while groups out of Singapore and the U.K. spent more on U.S. commercial property in 2020 than in 2019.

top cross-border capital sources into US in 2020

Total cross-border investment into U.S. commercial property declined 31% in 2020 from the year prior, in line with the overall U.S. market decline. For the fourth quarter, cross-border flows matched levels seen a year earlier, while investment by domestic U.S. players dropped. Early in the pandemic there were fears that travel restrictions and lockdowns would stymie purchases by overseas investors.

The industrial sector captured 31% of all cross-border spending in the U.S. in 2020, mirroring the broad investor leaning to this property type. South Korean investors put 56% of their U.S.-bound capital to work in the industrial market.


If you are a current RCA client, log into the RCA website to download the US Cross-Border Investment Compendium PDF report and data file for Q4 2020. This report dissects the who, where, what and how of cross-border investing in the world’s largest commercial real estate market.

Not yet an RCA client? Contact us to learn more.

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