China Investing in U.S. Real Estate

January 4th, 2011
in News

China Economic Review:  China Investment Corp (CIC), the country's sovereign wealth fund, is expanding its US real estate interests, having helped refinance a Manhattan office tower co-owned by Carlyle Group.

Follow up:

With the US commercial real estate industry in need of new investment to service outstanding mortgage debts, Chinese purchases rose sevenfold to US$127 million in 2010, according to research firm Real Capital Analytics. This doesn't include acquisitions made through property funds. In November, CIC bought a 7.6% stake in General Growth Properties (GGP), the second-largest US mall owner, through a fund manager that participated in the company's bankruptcy reorganization.

That GGP stake alone is worth over $1 billion.  Read more at China Economic Review.....

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