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Asian capital—from commercial real estate investment and development to investment in single-family assets—has been highly active in Los Angeles this cycle; however, Asian investors haven’t been as active in the Downtown Los Angeles condo market. Mike , managing partner at the Agency Development Group who is heading sales at Metropolis Tower II and has a long history in the condo market in Downtown Los Angeles, says that there has been little interest and activity from Asian buyers or foreign buyers in general on the project.

“We see some of that, but that is very prevalent in Miami and New York City and less so in San Francisco and Los Angeles,” Leipart tells GlobeSt.com. “California laws are such that we are not really set up for a lot of foreign investment. That being said, condo developments are always going to be a very attractive safe-spot for international currency. Because you don’t have a lot of maintenance and because condos are generally lock-and-leave, there has always been international money looking to park money in condo projects. That is part of the industry.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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