Ontario

Bay Area commercial property draws more Chinese money

Bay Area commercial property draws more Chinese money

San Francisco commercial real estate giant Kidder Matthews is partnering with a Chinese real estate consortium “to act as a bridge for Chinese business investment which wants to come to the Bay Area,” the firm said. Founded 10 years at Beijing’s Tsinghua University, the group is described as “a non-profit social organization and national industry association established under the guidance of China Real Estate Chamber of Commerce” and the university. Few details of the partnership have been made public – the Chinese play their cards pretty close to the chest – other than it wants to acquire commercial and residential real estate in the Bay Area. Last year, China’s largest real estate developer, Vanke Group, broke some serious ground in San Francisco, investing $175 million in a luxury condo development headed by Tishman Speyer at 201 Folsom St. In July, the public-private Hunters Point-Treasure Island project, run by Lennar Urban, rounded up $77 million from a consortium of overseas, mostly Chinese investors under the federal EB-5 green-card-for-foreign investors program.

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