While capital from around the globe is flowing into U.S. commercial real estate, not all foreign investors are big fans of retail. In fact, Australia alone accounted for 84 percent of retail dollars in 2005.

FOREIGN INVESTMENT BY COUNTRY
Buyer Location 2001 2002 2003 2004 2005
Other $206 million $172 million $85 million $65 million $69 million
Australia $32 million $474 million $2.1 billion $3.4 billion $7.3 billion
Canada $136 million $458 million $857 million $1.5 billion $1.1 billion
Euro $463 million $751 million $287 million $784 million $1.1. billion
German $1.6 billion $3.2 billion $3.3 billion $4.9 billion $3.3 billion
Mideast $264 million $1.2 billion $950 million $1.3 billion $1.7 billion
Pac Rim $73 million $99 million $177 million $198 million $207 million
UK $125 million $288 million $39 million $1.0 billion $911 million
Source: Sperry Van Ness, Real Capital Analytics
FOREIGN INVESTMENT BY PROPERTY TYPE
Apartment Industrial Office Retail
Euro 0.00% 1.40% 8.60% 2.90%
Other 0.00 0.00 0.20 0.20
Canada 0.00 23.30 5.80 3.10
Pac Rim 4.90 1.30 2.30 0.00
German 8.70 19.30 35.30 2.50
Mideast 15.30 3.50 14.40 2.10
UK 26.70 0.00 7.70 5.20
Australia 44.40 51.10 25.70 84.00
Source: Sperry Van Ness, Real Capital Analytics