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TUESDAY, NOVEMBER 24, 2009
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China May Invest in Bargain US Real Estate

Sovereign-wealth fund to ramp up spending after quiet 2008

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(Newser) – China’s sovereign-wealth fund has its eyes on US real estate, the Wall Street Journal reports. China Investment Corp. laid low throughout 2008 as the global economy teetered but is now opening its coffers. And depressed US commercial property values—off 35% from their peak—coupled with cheap government financing, could lead to widespread purchasing by the fund. CIC already has met with US private-equity firms.

CIC has spent more in one month this year than it did in all of 2008. But its moves on US real estate are likely to be subtle, unlike the Japanese acquisitions of the 1980s—including Rockefeller Center—that raised hackles in this country. The CIC is more likely to take minority stakes in investments and work through a US fund manager, says one analyst.

A stalled condominium project in Las Vegas.
A stalled condominium project in Las Vegas.   (AP Photo)
Sale sign stands outside an existing home on the market in the Garden District in New Orleans.
Sale sign stands outside an existing home on the market in the Garden District in New Orleans.   (AP Photo)
An agent hangs advertisement of real estate for rent at his office window in Beijing.
An agent hangs advertisement of real estate for rent at his office window in Beijing.   (AP Photo)
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10 comments
VIEWING:
 
foodchain11
Sep 8, 09 4:19 PM CDT
All you GOPers still cool on not having an education? Seems like the folks working really hard to improve themselves have the $$--and that's true for Americans as well; those who improve themselves do better. Reply
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+3
IN RESPONSE:
Reader64481089
Sep 8, 09 4:21 PM CDT
Yep, they laid low in 2008 waiting, waiting for GW to finish plundering it all so they could move in when the time was right and buy the damn place, once acre at a time......Great work GW, they could not have done it without you
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+3
IN RESPONSE:
Spudsy
Sep 8, 09 8:40 PM CDT
They weren't laying too low. They were buying Treasury Bonds so Georgie could pay for his play war in Iraq.
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+1
youngblood
Sep 8, 09 4:31 PM CDT
Just fucking Great. NOT Reply
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+1
polstroad
Sep 8, 09 4:34 PM CDT
does this mean they should not bomb us but instead just boot us out onto the streets? Reply
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+1

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