Chinese Developer Beefs Up US Portfolio With NYC Deal
Want to get a jump-start on upcoming deals? Meet the major players at one of our upcoming national events!
As part of a $1B investing tear, China’s largest residential developer, China Vanke, has snagged a NYC development site for $116M—a sign that China’s US property investment won’t be curbed by the country's economic turbulence.
The firm plans to convert the site’s grammar school into luxury condos, as part of a JV with Slate Property Group and Adam America Estate.
China Vanke throws a lot of funds into the gateway cities of NYC and S.F., along with other major Chinese players like Greenland Holdings and Bosun International, the Wall Street Journal reports.