Kim Dae-hyung, CEO of Maston Investment Management (left), Scott Rechler, Chairman of RXR (right) (Photo by Maston Investment Management Brand Strategy Team)
[Asia Economy Reporter Minji Lee] Mastern Investment Management announced on the 12th that it will build a strategic partnership with the US-based RXR to develop a collaborative relationship.
RXR is a top-tier US asset manager and real estate developer led by Scott Rechler, who is regarded as an influential figure in the US commercial real estate market.
Founded in 2007, RXR is ranked 5th in terms of office portfolio size in New York City. Its total assets under management amount to approximately $22.4 billion (about 28.6 trillion KRW). While it has traditionally focused investments in New York City, it has recently expanded its investment regions across the US, including Arizona, Florida, and North Carolina, through various collaborations with strategic partners.
Mastern Investment Management will act as an asset manager when introducing RXR's products to the Korean market. In the future, it plans to engage in co-investment activities as well.
Kim Daehyung, CEO of Mastern Investment Management, stated, “Through building constructive partnerships with global asset managers, we will transform into a global asset management company that innovates the industrial ecosystem.”
Meanwhile, Mastern Investment Management ranked 8th globally and 1st domestically in commercial real estate investment in the Asia-Pacific region according to Real Capital Analytics (RCA)’s Asia Pacific Capital Trends. As of April this year, its cumulative assets under management (AUM) exceed 30 trillion KRW.
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