With $62B through Q2 '15, cross-border investors are generating record numbers, an RCA report says, and are now the dominant source of commercial real estate deals in the US.

While Asian activity ($18.8B) gets most of the press, Europeans and Canadians are getting busy, too. (And the busiest Asian entrant might actually surprise you.)

So who are the investors—and where are they buying? Bisnow dug through the report and found the answers.

These investors seem to be mainly driven by regulatory changes, growing desires for a diverse portfolio, and the widespread belief in the stability of US real estate, the report says. The desire for real estate is so rabid, in fact, that investors are moving inward from gateway cities to smaller markets. Europeans, for example, look to the Deep South, Florida and the Midwest. Asian investors, on the other hand, tend to be clumped in the West and Northeast. But—in an interesting twist—Hawaii sits proudly in the top 10 markets for cross-border investment activity, driven mainly by one major transaction.

1. GIC (Govt of Singapore) & Global Logistic Properties

While RCA lists GIC and Global Logistics Properties as the top two buyers, the two actually worked together to purchase IndCor Properties’ $7.6B portfolio from Blackstone. The portfolio includes 117M SF in 547 warehouses, distribution centers and other industrial properties throughout the country. This places Singapore (pictured) as the surprising king of foreign buyers.

2. Norges Bank (Norway)

In the last year alone, Norges Bank picked up 230 properties worth $6.7B, including stakes in 7 and 11 Times Square (pictured). It also has properties in Boston and Washington.

3. Caisse de Depot (Canada)

The first of two Canadian buyers, Caisse de Depot, acquired an impressive $3.7B across only seven properties, including the Ritz Plaza (pictured) in New York.

4. Brookfield AM (Canada)

Although Brookfield’s US portfolio is spread across many impressive office properties—including NYC's One Liberty Plaza and the Gas Company Tower (pictured) in LA—they only made $2.8B in 57 acquisitions this year.

5. Anbang Insurance Group (China)

Angbang, the biggest Chinese buyer on RCA’s list, made huge waves with $2.4B worth of acquisitions, spread across just two properties—including the Waldorf Astoria (pictured).