国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

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
...
三穗县| 喀什市| 龙川县| 麦盖提县| 岫岩| 荥阳市| 汽车| 郁南县| 交口县| 宝鸡市| 明溪县| 青神县| 红桥区| 安陆市| 察隅县| 靖宇县| 鱼台县| 谢通门县| 舒兰市| 兰考县| 璧山县| 称多县| 临安市| 新郑市| 古丈县| 石嘴山市| 辽宁省| 许昌县| 辰溪县| 梁平县| 城口县| 梓潼县| 沐川县| 镇远县| 贵阳市| 昂仁县| 庆城县| 江达县| 普安县| 新田县| 济宁市|