Korean fund manager to invest up to C$600m in Canada

South Korean real estate fund manager KTB Asset Management Co. has plans to search in Toronto and Vancouver for offices, hotels, distribution centers, and other large properties with plans to invest up to C$600 million ($457 million) over the next year, according to media outlets.

The Seoul-based Korean fund has $10 billion in assets under management, $2 billion of which are dedicated to real estate and infrastructure. The majority of its foreign assets are currently in the United States.

Earlier this month, KTB Asset Management Co. originated a loan of C$165 million ($126 million) for Princes Gates Hotel LP’s refinancing of the 404-key Hotel X Toronto.