Investment manager

South Korean REIT Listing for Australian Real Estate Investment Manager Inmark


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“It was very popular, everyone was shocked,” he said. “From what I can see in the Korean retail investor market, they are still in the learning stage.”

Inmark executive director John Jee said the Korean government was excited about outside influences on its nascent real estate market.

“As the REIT market in Korea is growing, the government is encouraging established REIT practices overseas from countries like Australia to Korea,” Jee said.

Inmark REIT will be set up as a master trust with sub-REITs each holding assets as it grows.

Goods will be sourced from global markets such as Australia, while Korean assets will also be included and the minimum investment is $ 50 million.

Inmark targets the Australian industrial and office markets. “I think the bigger the better, the ideal place is $ 300- $ 400 million,” Ji said.

The office still has a bright future, in his opinion, saying the staff “will have to come back and get together.” Best-in-class assets and strong tenants are our priority right now, ”he said.

“But later, when we develop our assets under management, we could put in place a value-added product to improve returns. “

Mr. Ji first arrived in Sydney to study a Masters of Commerce at the University of NSW in the late 1990s, then returned to pursue a mixed-use development opportunity which became the Inmark Tower of 36 floors at George Street, Haymarket.

The project was supported by major South Korean investors.

This is the second time that an Australian company has listed real estate on the Korea Stock Exchange.

In 2004, Macquarie Investment Bank listed Macquarie Central Office Corporate Restructuring REIT, which was wound up approximately six years later.

All of Macquarie’s Korean REIT business was sold in 2014 to ARA Asset Management.

“We did everything – demolition, excavation, sale, certificate of occupancy – from 2006 to 2011,” Mr. Ji said.

“All the institutional capital brought in a lot of money and was very, very happy.

“During this development, I learned a lot about the Australian real estate market, which I found to be very transparent – a big difference from other countries, including Korea.”

Inmark now manages US $ 3.5 billion ($ 4.8 billion) in assets under management through private unlisted funds, 90% of which is held outside of South Korea in countries like Finland, the Scotland, Spain and France.

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