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Mastern America, BuildBlock join hands to expand presence in US commercial development market

By Im Eun-byel

Published : July 26, 2023 - 17:33

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Mastern America CEO Joseph Oh (left) and BuildBlock CEO Jimmy Jung pose for photos after signing a memorandum of understanding on a partnership for US commercial development projects. (Mastern Investment Management) Mastern America CEO Joseph Oh (left) and BuildBlock CEO Jimmy Jung pose for photos after signing a memorandum of understanding on a partnership for US commercial development projects. (Mastern Investment Management)

Mastern America, the US arm of Mastern Investment Management, said Wednesday it has joined hands with real estate platform operator BuildBlock to expand its presence in the US commercial development market.

The two firms recently signed a memorandum of understanding to bolster their ties and cooperate on diverse investment projects.

BuildBlock is a real estate platform operating in major cities and regions in the US, including Silicon Valley, Los Angeles, Hawaii, New York and Texas. The platform manages the whole process of real estate transactions for customers from property purchase to management to liquidation.

Under the agreement, Mastern America will be responsible for supporting customers with financing and asset management, while BuildBlock will provide support for construction and other regulatory issues.

Mastern America said its key target clients are reshoring companies amid geopolitical tensions and supply chain disruptions, especially Korean businesses that are increasingly relocating their offices, factories and distribution centers to the US.

“We will participate in large-scale commercial development projects in the US in a close partnership with BuildBlock,” said Mastern America CEO Joseph Oh. "We believe the partnership could help Korean businesses pursue new opportunities as well.”