BEIJING and DALLAS: Century Bridge Capital announced today that Century Bridge China Real Estate Fund, L.P. has successfully exited and repatriated the proceeds from its investment in Dalian, China.
The fund closed on its $24.5 million investment in the $87 million development in January 2015 in joint venture with regional developer, Dalian Guanxin Investment Corporation.
Located in Dalian in an established in-fill location in Dalian’s Economic Development and Technological Zone, at the core of the Jinzhou New District, the project benefited from being in one of the highest GDP districts in Liaoning province. The project is within a ten-minute walk of offices and industrial complexes while subway and bus transportation provide quick access to downtown Dalian. Nearby high schools, primary schools, hospitals and substantial retail developments serve the area. The development includes 1,419 residential units in a combination of high rise apartments and loft apartments in four 24-story towers and low-rise apartments and lofts in one five-story building and a second six-story building.
Commenting on the Dalian project and how it illustrates his firm’s strengths, capabilities and core investment strategy, Century Bridge CEO, Tom Delatour, noted, "Since we established our operations in China eleven years ago, we have continued to execute on a dedicated strategy, focusing on middle class housing in Tier II cities. Working with our local partner on the Dalian investment, our China-based team was able to jointly manage and successfully execute on construction and development of the project. As the market evolved, together we fine-tuned our marketing strategies for the units, balancing pricing levels, timing of releasing units for sale and demand/supply dynamics in order to enhance the overall profitability of our investment and its contribution to our portfolio value."
Century Bridge President, Wei Deng, added, "Working in tandem with our local partners through every phase of the development and marketing process, in addition to being crucial to the performance of our investments, supports growing relationships that allow us to further expand our investment footprint in China. Consequently, our established local presence and team of both Chinese and US professionals is a key differentiator and essential to our success. Our long-term focus on China and the middle-income housing sector will allow us to reap the full value of our investment in our Beijing-based team as well as the value of our established joint venture partner relationships as we source, secure and execute on attractive new development opportunities."
Century Bridge Capital is a private equity firm with offices in Dallas, Texas and Beijing, China. The firm is focused exclusively on investment in the middle-income, residential real estate sector in China’s fast growing Tier II cities. Its China-focused private equity real estate fund, Century Bridge China Real Estate Fund, L.P., raised over $170 million of total committed capital from ten global institutions.