Mingtiandi

Asia real estate and outbound investment news

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
Sign Up / Login Logout

Lost your password?
Register
Forgotten Password
Cancel

Register For This Site

A password will be e-mailed to you.

  • Capital Markets
  • Events
    • Mingtiandi 2022 Event Calendar
    • APAC Residential Forum 2022
    • Asia Logistics Forum 2022
    • Asia REIT Forum 2022
    • APAC Data Centre Forum 2022
    • Singapore Focus Forum 2022
    • Office Strategies Forum 2022
    • More Events
  • MTD TV
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail
  • Research & Policy
  • Advertise

China Buys More US Real Estate with $200 Million LA Deal

2014/01/06 by Michael Cole Leave a Comment

Fig Central Staples Center

Drawing of Fig Central showing Staples Center

The latest major purchase of US property by a Chinese developer is the acquisition of a US$200 million Los Angeles project by Oceanwide Real Estate Group (000046.SZ).

According to a recent report in the Wall Street Journal, Beijing-based Oceanwide, which is listed on the Shenzhen Exchange, has agreed to acquire a planned development project named Fig Central in the city’s downtown area just opposite the Staples Center sports arena, which is home to the LA Lakers basketball team.

The 223,000 square metre project would include a hotel, residential space and a shopping area. At present, no construction has started on the project, however, it is said to “shovel-ready.”

Beijing-based Oceanwide executed the transaction through its Tohigh Construction Investment subsidiary, purchasing the property from New York-based developer, The Moinian Group.

The figures on the planned investment were revealed in papers filed with the Shenzhen Stock Exchange, however, the acquisition costs were likely to be only a fraction of the $200 million amount.

Oceanwide Stock Swells on Acquisition

Shares in Oceanwide, which develops both residential and commercial projects in China had sunk as low as RMB 4.22 per share on December 23rd, but after the announcement on December 27th had climbed as high as RMB 4.64 per share. By the time the market closed on January 3rd the stock was trading at RMB 4.39 per share.

Buy-Out is the Latest US Deal From China

Oceanwide’s move continues to make the case for the US being the favorite destination for Chinese property investors.

During 2013, Fosun bought One Chase Manhattan Plaza in New York for US$725 million, China Vanke invested in San Francisco, and Greenland Group bought the Atlantic Yards project in New York, as well as the Metropolis project in Los Angeles.

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: Outbound Investment Tagged With: China Oceanwide Holdings, China outbound investment, Moinian Group, Shenzhen Stock Exchange

Mingtiandi Membership 780x439 v2

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Mingtiandi Delivered

Office forum 2022 Web banner

MTD TV

PGIM, Yardi on How Tech Powers Asian Real Estate Innovation: MTD TV
MTD TV Panel: Vietnam Logistics Real Estate Gains Favour With Investors in 2020

More MTD TV Videos>>

People in the News

Lu Yi Shimao
Asia Real Estate People in the News 2022-06-27
Wu Jianxin Kaisa
Asia Real Estate People in the News 2022-06-20
Graham Mackie Tishman
Tishman Speyer Appoints Graham Mackie to Lead APAC Push Beyond China and India
Antoine Mesnage
AXA IM Alts Appoints Antoine Mesnage as Head of Australia, Promotes 2 Other Execs

More Industry Professionals>>

People in the News

Asia Real Estate People in the News 2022-06-27

Lu Yi Shimao

A senior appointment by one of China’s crew of defaulting privately-controlled developers leads this week’s roundup of … Read More>>

Asia Real Estate People in the News 2022-06-20

Wu Jianxin Kaisa

Top level executive changes at a pair of major mainland real estate companies lead this week’s round-up of personnel … Read More>>

Tishman Speyer Appoints Graham Mackie to Lead APAC Push Beyond China and India

Graham Mackie Tishman

US developer Tishman Speyer has hired industry veteran Graham Mackie as a managing director to lead the firm’s Asia … Read More>>

AXA IM Alts Appoints Antoine Mesnage as Head of Australia, Promotes 2 Other Execs

Antoine Mesnage

AXA IM Alts is shaking up its leadership team Down Under with the appointment of Antoine Mesnage as the French firm’s … Read More>>

More Industry Professionals>>

Latest Stories

Lin Ho Man
Evergrande to ‘Vigorously’ Fight Winding-Up Petition Filed by Disgruntled Investor
Sunac Sun Hongbin
Sunac Meets Investors to Seek Second Extension on $600M in Domestic Bonds
Actis to Invest $700M in India Life Science Assets and More Asia Real Estate Headlines

Sponsored Features

Should Proptech Give Us Sleepless Nights?
Hong Kong’s Evolving Commercial Real Estate Landscape
Opportunities in the Greater Bay Area

More Sponsored Features>>

MTD-QR-Code-320

Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • 2022 Event Calendar
  • MTD TV Archives
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail

More Mingtiandi

  • About Mingtiandi
  • Contact Mingtiandi
  • Mingtiandi Membership
  • Newsletter Subscription
  • Advertise
  • Terms of Use
  • Privacy
  • Join the Mingtiandi Team


© 2007-2022 China Advertising Media Ltd (Samoa). All rights reserved.

"*" indicates required fields

Terms of Use and Privacy Policy*