San Francisco, CA
Korea’s MDM Backed Gaw San Francisco, Tokyo Buys – Mingtiandi
North Park MDM is reported to have backed Gaw Capital Partners’ acquisition of North Park in San Francisco
In recent months Korean investors have been reported to have lost as much as 70 percent on US office investments made before the pandemic, but institutions from the home of BTS and Blackpink may still be open to new opportunities in the land of freedom, with a Seoul-based asset manager recently coming out as having backed Gaw Capital Partners acquisition of a San Francisco office project late last year.
MDM Asset Management said earlier this month that it is a co-investor in Gaw Capital Partners’ $90 million October acquisition of the North Park campus on the Embarcadero waterfront from Blackstone, with the firm explaining the deal as part of an overseas expansion plan.
“We are investing in creating new markets, looking beyond the immediate crisis to the distant future,” MDM International chief executive Kim Jae-chan, told local media. “We will selectively invest in various global partnerships and overseas high-quality assets, considering the economic downturn as an opportune time for investment.” Gaw Capital had not responded to inquiries from Mingtiandi by the time of publication.
Showing a taste for opportunistic deals, MDM also backed Gaw Capital’s $409.3 million joint acquisition of the Hyatt Regency Tokyo hotel with KKR in March last year, the Korean firm said, as that property’s owner, transportation giant Odakyu Electric Railway, continues to reel from the impact of the pandemic.
Digging into Discounts
In San Francisco, Gaw and MDM achieved around a two-thirds discount when acquiring the low-rise commercial complex, compared to the $245 million that Blackstone had paid to buy the property from Gaw Capital in 2018. In speaking to Korean media, MDM described the investment as a vote of confidence in San Francisco’s resiliency.

MDM International chief executive Richard Kim Jae-chan
“Given the excellent surrounding environment and the city’s ability to swiftly overcome global financial crises, it is a preferred location for information technology companies and investment firms,” MDM said, expecting the asset to overcome the challenges of the global market thanks to its location
Office vacancy in San Francisco has climbed for 15 straight quarters with more than 30 percent of Grade A space in the city left unoccupied at the end of September, which was up by 25 percentage points from the end of 2019, according to a report from JLL.
MDM’s belief in the US market comes despite its compatriots at Mirae Asset Global Investments having reportedly taken a 30 percent haircut last October when they sold a four building office complex in Dallas for $580 million. A Mirae US real estate fund which matured in May of this year is said to have lost 70 percent of its value as its office bets went bad.
Together in Tokyo
In Japan, MDM backed Gaw Capital’s investment in the 746-room Hyatt Regency, with the Korean firm describing the deal as an opportunity to profit from financial disruption in the wake of COVID-19.
“During the pandemic, many Japanese corporations faced liquidity issues, which led to the Hyatt Regency Hotel being offered for sale at a discounted price. With the relaxation of epidemic measures and increase in tourism with trends like ‘revenge travel’, it was a good opportunity to invest in undervalued assets during the COVID crisis. Since the hotel has aged, we plan on doing interior renovations over the next two years before reselling,” a representative from MDM told local media.
Odakyu Electric Railway, one of Japan’s largest travel companies, described the sale of the 71,512-square-metre luxury hotel as part of a larger effort to restore the company’s financial health and restructure its business portfolio after the pandemic.
Situated next to Shinjuku Central Park and the Tokyo Metropolitan Government Building, the Hyatt Regency’s new owners are said to have plans to upgrade the 1980-vintage building.
MDM, which has a development business which had supplied 22,775 residential units across Korea as of February 2022, also teamed up with Gaw Capital to make its first overseas acquisition in 2017 when it invested in the Hong Kong company’s third US fund.
Familiar with Korean Capital
In addition to the partnership with MDM, in 2022 Gaw Capital worked with Gangnam-based private equity firm IMM Investment to invest in Dreammark1, a data centre operator in Seoul.
In October 2018, Gaw Capital, Korean Teachers’ Credit Union and other Asian investors agreed to acquire the 4 and 5 Harbour Exchange on London’s Isle of Dogs for £36.2 million.
Gaw Capital teamed with Korean sovereign wealth fund KIC to acquire Hong Kong’s Intercontinental Hotel for $938 million in 2015, with the partners having since reopened that 503-room Kowloon property under the Regent brand.
San Francisco, CA
Giants scratch Rafael Devers from lineup with tight hamstring
Friday, February 27, 2026 9:48PM
SCOTTSDALE, Ariz. — The San Francisco Giants scratched slugger Rafael Devers from the starting lineup because of a tight hamstring, keeping him out of a spring training game against the Los Angeles Dodgers on Friday.
The three-time All-Star and 2018 World Series champion is starting his first full season with the Giants after they acquired him in a trade with the Boston Red Sox last year.
Devers hit 35 home runs and had 109 RBIs last season, playing 90 games with San Francisco and 73 in Boston. He signed a $313.5 million, 10-year contract in 2023 with the Red Sox.
He was 20 when he made his major league debut in Boston nine years ago, and he helped them win the World Series the following year.
Devers, who has 235 career homers and 747 RBIs, led Boston in RBIs for five straight seasons and has finished in the top 20 in voting for AL MVP five times.
Copyright © 2026 ESPN Internet Ventures. All rights reserved.
San Francisco, CA
San Francisco court clerks strike for better staffing, training
The people cheering and banging drums on the front steps of San Francisco’s Hall of Justice are usually quietly keeping the calendars and paperwork on track for the city’s courts.
Those court clerks are now hitting the picket lines, citing the need for better staffing and more training. It’s the second time the group has gone on strike since 2024, and this strike may last a lot longer than the last one.
Defense attorneys, prosecutors and judges agree that court clerks are the engines that keep the justice system running. Without them, it all grinds to a slow crawl.
“You all run this ship like the Navy,” District 9 Supervisor Jackie Fielder said to a group of city clerks.
The strike is essentially a continuation of an averted strike that occurred in October 2025.
“We’re not asking for private jets or unicorns,” Superior Court clerk employee Ben Thompson said. “We’re just asking for effective tools with which we can do our job and training and just more of us.”
Thompson said the training is needed to bring current employees up to speed on occasional changes in laws.
Another big issue is staffing, something that clerks said has been an ongoing issue since October 2024, the last time they went on a one-day strike.
Court management issued their latest statement on Wednesday, in which the court’s executive officer, Brandon Riley, said they have been at an impasse with the union since December.
The statement also said Riley and his team has been negotiating with the union in good faith. He pointed out the tentative agreement the union came to with the courts in October 2025, but it fell apart when union members rejected it.
California’s superior courts are all funded by the state. In 2024, Sacramento cut back on court money by $97 million statewide due to overall budget concerns.
While there have been efforts to backfill those funds, they’ve never been fully restored.
Inside court on Thursday, the clerk’s office was closed, leaving the public with lots of unanswered questions. Attorneys and bailiffs described a slightly chaotic day in court.
Arraignments were all funneled to one courtroom and most other court procedures were funneled to another one. Most of those procedures were quickly continued.
At the civil courthouse, while workers rallied outside, a date-stamping machine was set up inside so people could stamp their own documents and place them in locked bins.
Notices were also posted at the family law clinic and small claims courts, noting limited available services while the strike is in progress.
According to a union spokesperson, there has been no date set for negotiations to resume, meaning the courthouse logjams could stretch for days, weeks or more.
San Francisco, CA
Which San Francisco Giants Prospects Are Real Depth vs. Marketing Names
The San Francisco Giants are likely to break camp with one of their top prospects on the 26-man roster. But they’re all getting plenty of work in camp.
The thing is, just because a prospect doesn’t make a 26-man opening day roster doesn’t mean they can’t help a Major League team at some point in the season. Others, for now, are working on developing talent.
In this exercise, five prospects that are part of Major League camp were selected to determine if they’re real depth this season or if they’re marketing names — for now. Marketing names can become real depth before one knows it, such as the first Giants prospect listed.
Bryce Eldridge: Real Depth
Eldridge has nothing left to prove at the minor league level after he was selected in the first round in the 2023 MLB draft. Back then, he was the classic example of a marketing name, one that creates buzz in the organization and with fans.
But, after more than two years of development and a taste of the Majors, he’s real depth. He’s expected to make the opening day roster and share time at first base and designated hitter with Rafael Devers, one of the game’s most established sluggers.
On Wednesday, he hit his first spring training home run, one of three in the 13-12 loss to the Milwaukee Brewers.
Blake Tidwell: Real Depth
Tidwell was acquired from the New York Mets in July in the Tyler Rogers trade. He only pitched in four games for the Mets, so he still has prospect status. But that MLB service time, combined with his early impressions in camp, make him real depth for a team that only has one or two spots available on the pitching staff.
Tidwell may not make the team out of camp for opening day. But he’s one of those prospects that could make his way to San Francisco during the season due to injury or underperformance. It’s an example of using the time in spring training wisely and paving the way for a future promotion.
Will Bednar: Real Depth
The Giants have been waiting for their first-round pick in the 2021 MLB draft to pay off, and this might be the year that Will Bednar finally makes the jump to the Majors. He’s in Major League camp and he’s been converted into a reliever in the past couple of seasons.
He went 2-3 with a 5.68 ERA in 38 games, his full season as a reliever. But he’s impressed the new coaching staff during camp and there’s enough buzz around him to consider him a potential call-up during the season. He’s in his fifth professional season so the Rule 5 draft is a consideration this coming offseason.
Parks Harber: Marketing Name
For now, the young third baseman is going to create a lot of buzz in the farm system in 2026, but he isn’t a threat to anyone’s job yet. Picked up in the Camilo Doval trade, he only has 102 minor league games under his belt after he was signed as an undrafted free agent by the New York Yankees. He got his first spring training hit on Wednesday. His career slash of .312/.413/.528 is encouraging but he hasn’t played higher than High-A Eugene.
Bo Davidson: Marketing Name
The Giants signed Davidson as an undrafted free agent and he’s starting to generate real buzz in spring training as a non-roster invitee. He’s not quite real depth yet because he has yet to play above Double-A Richmond. But the way he’s playing in the spring he should be at Sacramento sometime this season, which puts him in the position to be real depth.
He’s hit well at every stop, but he showed off more power than ever last season. He hit a career-best 18 home runs and 70 RBI as he slashed .281/.376/.468. He played 42 games at Richmond last season.
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