Mark E. Rose, chair and CEO of Avison Young, says, “We believe that Seoul is an underserved market that offers great potential for increased local, national and international investment sales and leasing activity. Seoul, which has a young, highly educated and tech-savvy workforce, is a gateway to China and the rest of Asia. The new Seoul office will also enhance our ability to facilitate multi-market transactions—and sets us up for further expansion within the Pacific Rim.”

Choi brings 34 years of commercial real estate experience in South Korea to Avison Young, and was also CEO of Mate Plus affiliate Mate Plus Advisors, which specializes in investment sales, retail, project management, asset management, leasing, research and advisory services; and CEO of Genstar, of which Mate Plus is a key affiliate.

Choi will work closely with Hiren Thakar, a principal of Avison Young and the firm's chief operations officer, international operations.

The expansion into South Korea follows Avison Young's announcement in July that Caisse de dépôt et placement du Québec, one of Canada's leading institutional fund managers, has made a $250-million preferred equity investment to accelerate Avison Young's strategic growth plan.

“The opening of our new Seoul office will allow us to capitalize further on CDPQ's investment in Avison Young's strategic initiatives,” Thakar says. “Our global team will continue to eye additional markets for expansion through the deployment of capital obtained via CDPQ's recent investment.”

Avison Young made its first investment under its strategic partnership with CDPQ by acquiring leading U.K. firm Wilkinson Williams LLP and opening a new office in London's West End on Aug. 1.