International investors, especially from China, continue to pour money into U.S. real estate—favoring apartment development. “The thing that’s been skyrocketing is the Chinese purchase of development sites in the U.S.,” says Jim Costello, senior vice president for Real Capital Analytics (RCA), a data firm based in New York City.
For example, last September, the Wanda Group, China's largest commercial property developer, bought 7.95 acres at 9900 Wilshire Boulevard in Los Angeles, Calif., with plans to create a $1.2 billion condominium development. “With its premier Beverly Hills address, 9900 Wilshire is expected to rank among the most well-known addresses,” according to a statement by CBRE Capital Markets, which arranged the deal with Savills Studley...Chinese Investors Bet on U.S. Apartment Development
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