Modern Land, a Chinese real estate developer, launched a new affiliate, AMG Capital, to invest in real estate in the US. The new company will be based in Houston along with other Modern Land affiliates. The venture will target Class-A urban multifamily developments (like those pictured in China above) in high-growth cities, such as Houston, Dallas, Austin, Seattle, Denver, Orlando, Phoenix and Atlanta. The firm, led by John Landrum and chairman Lei Zhang, will invest in new developments with its investment partners, which include institutional investors and high-net-worth investors from both the People's Republic of China and Hong Kong.
China's weak economy has the country's wealthiest looking elsewhere for investment, becoming the largest foreign buyers of real estate. And let's not forget China's 90% domination in the $3.7B flood of EB-5 projects.
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