Korea Asset Investment Management, an affiliate of Korean real estate company MDM Group, has recently closed a deal worth 175 million pounds (US$229.90 million) to acquire UK’s Gallagher Shopping Park from US private equity giant Kolberg Kravis Roberts, according to news reports on July 23.  It is the first time that a Korean company has acquired a major shopping park in the UK -- the largest deal in this year’s UK warehouse retail sector.  Gallagher Shopping Park, one of the top 10 shopping complexes in the UK, is located on a 74,000 square-meter site in the Black Country, west of Birmingham. It consists of three retail warehouses and a food and refreshment building.  KKR and its operating partner Quadrant Estates acquired the facilities back in 2014 for about 123 million pounds.  KAIM has invested in office buildings in advanced countries. But due to the falling earnings rate, the firm has more recently turned its eyes to retail assets.  The firm acquired the UK shopping park via a fund managed by Korea’s Hana Financial Investment. It plans to sell the facilities to a local institutional investor. Industry watchers estimate the internal rate of return could reach 13 percent.  By Lee Ji-yoon - The Investor