This paper is to analyze (1) initial market entrance strategy, (2) investment strategy, and (3) foreign real estate invest strategy of global REITs (Real Estate Investment Trusts) and real estate invest fund. Our findings provide substantial implications to Korean firms. In the initial market strategy, in reference to the case of USA and UK, spinning off the real estate subsidiary seems to be the most desirable form for the initial business organization. This has advantages of economics of scale, constructing an image as the professional investment company, acquiring human resources, and building enterprising organizational cultures. Among investment strategies, indirect investment, overseas investment, specialized product investment should be closely reviewed. Finally, it is desirable to accumulate information and know-how of the local market through initial indirect investment and then convert to direct investment when it comes to overseas investment. It is also important to build strong partnership with the local eligible firm in initial overseas investment.