{"id":1004549218,"date":"2021-08-31T03:41:28","date_gmt":"2021-08-31T11:41:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004549218"},"modified":"2022-12-08T14:21:26","modified_gmt":"2022-12-08T22:21:26","slug":"aig-global-korean-investors-form-1b-industrial-jv","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/","title":{"rendered":"AIG Global, Korean Investors Form $1B Industrial JV"},"content":{"rendered":"
\"\"<\/a>

Image by falco via Pixabay.com<\/p><\/div>\n

AIG Global Real Estate and LB Asset Management, the latter on behalf of three Korean institutional investors, have created a joint venture that has acquired an 8.6 million-square-foot portfolio of U.S. industrial real estate assets valued at more than $1 billion, AIG GRE announced Monday.<\/p>\n

The portfolio comprises 86 industrial properties primarily located across the Southeast. They will be managed by AIG GRE, the global real estate equity investment manager of American International Group Inc.<\/p>\n

\n

READ ALSO<\/strong>: Why Industrial Space Demand Exceeds Expectations<\/a><\/p>\n

\n

LB\u2019s website indicates that the Korean company has a 30 percent stake in the portfolio.<\/p>\n

The portfolio is 98 percent leased and spans key industrial markets in Virginia, Georgia, North Carolina and Tennessee.<\/p>\n

As of press time, AIG GRE had not provided Commercial Property Executive<\/em> with requested additional information.<\/p>\n

In a prepared statement, Doug Tymins, president & CEO of AIG Global Real Estate, noted the ongoing \u201cin-migration and population growth driving the relocation of major business and research centers\u201d to the Southeast, along with the impact of e-commerce, as the main drivers behind the region’s positive industrial outlook.<\/p>\n

LB Managing Director Yun Cho called the joint venture \u201ca significant milestone for our firm\u201d and added that \u201cThe portfolio \u2026 provides an opportunity to achieve immediate scale in the U.S. industrial market.\u201d<\/p>\n

JLL Securities served as financial advisor to AIG Global Real Estate.<\/p>\n

From Seoul to everywhere<\/h2>\n

Founded in 2016, LB Asset Management is based in Seoul, South Korea. In addition to numerous assets in South Korea, the company\u2019s real estate funds (which now number more than 20) have invested\u2014just since 2019\u2014in student housing in Australia, an Amazon fulfillment center in Scotland, Samsung Electronics\u2019 European headquarters (in Chertsey, U.K.), a logistics portfolio in Sweden, an office property in Prague and multifamily assets in Tokyo.<\/p>\n

Despite COVID\u2019s disruption, South Korean investment in U.S. CRE<\/a> increased in 2020, to the point that South Korea was the second-largest cross-border investor in U.S. real estate last year.<\/p>\n","protected":false},"excerpt":{"rendered":"

The partners have acquired a portfolio of 86 assets, mostly in the Southeast.<\/p>\n","protected":false},"author":882,"featured_media":1004546937,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,21783,23891,21742],"tags":[49843,36924,32914,32796],"class_list":["post-1004549218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-investment","category-national","category-latest","tag-aig","tag-aig-global-real-estate","tag-e-commerce","tag-jll"],"acf":[],"yoast_head":"\nAIG Global, Korean Investors Form $1B Industrial JV - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AIG Global, Korean Investors Form $1B Industrial JV\" \/>\n<meta property=\"og:description\" content=\"The partners have acquired a portfolio of 86 assets, mostly in the Southeast.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-31T11:41:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T22:21:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/Image-by-falco-via-Pixabay-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"960\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/\",\"name\":\"AIG Global, Korean Investors Form $1B Industrial JV - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/Image-by-falco-via-Pixabay-1.jpg\",\"datePublished\":\"2021-08-31T11:41:28+00:00\",\"dateModified\":\"2022-12-08T22:21:26+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/Image-by-falco-via-Pixabay-1.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/Image-by-falco-via-Pixabay-1.jpg\",\"width\":1280,\"height\":960,\"caption\":\"Image by falco via Pixabay.com\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"AIG Global, Korean Investors Form $1B Industrial JV\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\",\"name\":\"Scott Baltic\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"caption\":\"Scott Baltic\"},\"description\":\"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"AIG Global, Korean Investors Form $1B Industrial JV - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/","og_locale":"en_US","og_type":"article","og_title":"AIG Global, Korean Investors Form $1B Industrial JV","og_description":"The partners have acquired a portfolio of 86 assets, mostly in the Southeast.","og_url":"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2021-08-31T11:41:28+00:00","article_modified_time":"2022-12-08T22:21:26+00:00","og_image":[{"width":1280,"height":960,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/Image-by-falco-via-Pixabay-1.jpg","type":"image\/jpeg"}],"author":"Scott Baltic","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/","url":"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/","name":"AIG Global, Korean Investors Form $1B Industrial JV - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/Image-by-falco-via-Pixabay-1.jpg","datePublished":"2021-08-31T11:41:28+00:00","dateModified":"2022-12-08T22:21:26+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/Image-by-falco-via-Pixabay-1.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/Image-by-falco-via-Pixabay-1.jpg","width":1280,"height":960,"caption":"Image by falco via Pixabay.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/aig-global-korean-investors-form-1b-industrial-jv\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"AIG Global, Korean Investors Form $1B Industrial JV"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/Image-by-falco-via-Pixabay-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004549218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004549218"}],"version-history":[{"count":9,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004549218\/revisions"}],"predecessor-version":[{"id":1004549295,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004549218\/revisions\/1004549295"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004546937"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004549218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004549218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004549218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}