Asia — especially China — has become a leading source for cross-border investment in real estate.

A panel at the Association of Foreign Investors in Real Estate’s February conference took a look at Asian capital flows into the United States. The “Changing Directions” panel included Roy March, CEO of Eastdil Secured; Goodwin Gaw, managing principal and chairman of Gaw Capital Partners; Shang Dai, CEO and a managing partner of Kuafu Properties; and Sean Muellers, chief U.S. representative for the Dalian Wanda Group Corp.

Cross-border capital flows out of Asia have been increasing since the global financial crisis — and that flow has accelerated in the past few years. Eastdil’s March noted that, from 2010 to 2014, some $36.8 billion has been invested in U.S. property by Asian sources — and more than one-third, 35 percent, has flowed into Manhattan. Other gateway cities, such as Boston, Los Angeles, San Francisco, and Washington, D.C., also have been big be