综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Business / Industries

Chinese insurance giants take first bite of US real estate

(Xinhua) Updated: 2015-04-09 09:10

Chinese insurance giants take first bite of US real estate

A woman walks past China Life Insurance Co Ltd headquarters building at Beijing's Financial Street in this October 26, 2012 file photo. [Photo/Agencies]

NEW YORK - China's two largest insurance companies had their first bite of US commercial real estate, buying a majority stake in a $500 million project in the city of Boston.

China Life Insurance Company and Ping An Insurance Company of China will serve as co-investors in Tishman Speyer's prime waterfront site at Pier 4 in Boston's popular Seaport District, Tishman Speyer Properties, one of the world's leading developers, announced Wednesday.

China Life Insurance Co, which is the country's largest insurer by premiums, and Ping An Insurance Group, which ranks second, bought a majority stake in the project which will take up most of Pier 4, according to a person familiar with the transaction.

However, the size of the two Chinese insurers' stakes were not immediately known.

China Life, through its subsidiary China Life Investment Holding Company Limited, and Ping An, through its real estate investment platform, Ping An Real Estate Company Limited, are investing alongside Tishman Speyer Real Estate Venture VIII.

Tishman Speyer acquired the development site in December 2014 and it will serve as general partner and manage the day-to-day development of the project.

The company recently announced plans to build a 13-story, commercial building, primarily for office use, and a nine-story, 100-unit luxury residential condominium building. Both buildings will include ground floor retail/restaurant space, and the site plan also includes a new one-acre public park.

Construction is scheduled to begin in the fourth quarter of 2015, with completion of both new buildings in 2018.

"In that time, we have forged strong, productive relationships with both China Life and Ping An. We are really pleased that they have chosen to join us on this project," said Tishman Speyer Co- CEO Rob Speyer.

"It is a good start for China Life, which will expand its real estate investing in America, and it will promote closer cooperation in our world," said China Life Investment Holding in a statement.

Ping An Real Estate said, "This is another step forward for us in developing a strong ongoing business relationship with Tishman Speyer."

"Ping An and Tishman Speyer have previously conducted business together in China and we are confident that they will be a very good partner for us in our first foray into the United States real estate market," it said in a statement.

 

Hot Topics

Editor's Picks
...
金堂县| 墨脱县| 丰原市| 上思县| 平湖市| 泊头市| 昌平区| 康乐县| 漳浦县| 家居| 池州市| 峨山| 珲春市| 苗栗市| 兖州市| 大竹县| 乌什县| 永济市| 杭锦后旗| 陆丰市| 会理县| 安顺市| 卢龙县| 海兴县| 千阳县| 夹江县| 邓州市| 吴江市| 云林县| 廉江市| 宜章县| 绥棱县| 潞西市| 罗平县| 滦平县| 长岛县| 阳西县| 深州市| 宜城市| 神农架林区| 九江市|