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 2023 Event Calendar
    • Mingtiandi APAC Residential Forum 2023
    • Mingtiandi Asia Logistics Forum 2023
    • Mingtiandi Hong Kong Focus Forum 2023
    • Mingtiandi APAC Data Centre Forum 2023
    • Mingtiandi Asia Office Strategies Forum 2023
    • Mingtiandi Singapore Focus Forum 2023
    • More Events
  • MTD TV
  • People
    • Industry Moves
    • MTD TV Speakers
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail
  • Research & Policy
  • Advertise

Miami Investor Flips SF Building to Shanghai Lingang to Make 44% Profit in 17 Months

2016/07/06 by Bruce Haring Leave a Comment

Lingang 755 Sansome

Lingang helped the former owners of 755 Sansome to turn a 44% profit in one year

A state-owned firm set up to develop a Shanghai satellite town around the city’s port has found a new safe harbor for its cash, parking $42.6 million into the purchase of a six-storey office building in downtown San Francisco.

Shanghai Lingang Economic Development Group made its first overseas real estate investment during June, buying the 58,000 square foot (5,400 square metre) property at 755 Sansome Street in the city from Miami-based Market Street Real Estate Partners.

Chinese SOE Helps US Investors Make 44% Profit in 17 Months

The US investment firm had purchased the office block near the iconic Transamerica Pyramid in February 2015 for $29.5 million, and will now have realised a 44 percent profit on its investment in just 17 months.

Sansome Street Advisors and broker Rob Dumas were the seller’s representative, while Erik Hanson of JLL and June Young of Keller Williams represented Shanghai Lingang in the transaction. Reports indicate the site’s office rentals are approaching $70 per square foot and the circa 1927 building is said to be 60 percent occupied.

Shanghai Lingang was set up in 1986 to promote the development of an industrial zone around the city’s Yangshan port, however, like many Chinese state-owned entities, it has since expanded into other areas.

Besides setting up industrial and residential facilities near Yangshan port, the company has also invested in building an international movie and television production park in Shanghai, expected to open early next year.

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: Outbound Investment Tagged With: daily-sp, highlight, San Francisco, Shanghai Lingang

Leave a Reply

Your email address will not be published.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

Get Mingtiandi Delivered

  • This field is for validation purposes and should be left unchanged.

MTD TV

Fergal Harris, JLL
Ivanhoe, Phoenix, SDAX and JLL Talk the Ties That Bind Singapore and Australia
core panel screenshot2
Allianz, KKR, Gaw and Colliers See Top Asia Office Markets on the Upswing

More MTD TV Videos>>

People in the News

Ganen Sarvananthan
TPG Upgrades Asia Managing Partner Sarvananthan to Lead Middle East Expansion
Ronshine chairman and CEO Ou Zonghong
Asia Real Estate People in the News 2023-09-18
Claire Cormier Thielke
Hines Greater China Boss Cormier Thielke Joins Prologis to Lead Asia Investment
Kenny Lam Link REIT
Link CIO Kenny Lam Leaving Asia’s Largest REIT

More Industry Professionals>>

People in the News

TPG Upgrades Asia Managing Partner Sarvananthan to Lead Middle East Expansion

Ganen Sarvananthan

US private equity giant TPG announced this week that it has appointed Ganen Sarvananthan, one of the managing partners … Read More>>

Asia Real Estate People in the News 2023-09-18

Ronshine chairman and CEO Ou Zonghong

Director resignations at a pair of mainland China real estate companies lead this week’s list of personnel moves from … Read More>>

Hines Greater China Boss Cormier Thielke Joins Prologis to Lead Asia Investment

Claire Cormier Thielke

Hines veteran Claire Cormier Thielke has left her post as the US developer’s head of Greater China to join logistics … Read More>>

Link CIO Kenny Lam Leaving Asia’s Largest REIT

Kenny Lam Link REIT

Kenny Lam, chief investment officer for strategic investment at Hong Kong’s Link REIT, has resigned from his role after … Read More>>

More Industry Professionals>>

Latest Stories

Logos co-CEO Trent Iliffe
Logos Inks Deal with TEPCO to Develop 100MW APAC Power Network
CIFI Holdings (Group) Co. Ltd., Headquartered in Shanghai
Henderson Buying 50% of CIFI Guangzhou Project and More Asia Real Estate Headlines
MidlandGate Perth
PAG Buying Perth Mall From CPPIB-Backed Fund After Price Slides 25%

Sponsored Features

Behind the Gate: The Anatomy of a Data Centre
Flexible Solutions for China’s Commercial Real Estate Recovery
Building Property Portfolios Ready for China’s New Economy-Led Rebound

More Sponsored Features>>

Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • 2023 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


© 2007-2023 China Advertising Media Ltd (Samoa). All rights reserved.

  • This field is for validation purposes and should be left unchanged.