Chinese Auto-Parts Maker Dives Into US Real Estate
China's number one auto-parts maker has laid claim to also being the country's top private investor in American real estate. Wanxiang Group over the past five years has invested in over 60 office building, malls, houses and warehouses, among other holdings. Attributing a shift in focus to an economy recovery whose gains could tip toward real estate values, Wnxiang President Pin Ni (above) told Bloomberg, "We’ve done very few automobile deals in the U.S. in the past four to five years.”
According to Real Capital Analytics, Wanxiang was the runner-up Chinese investor by number of US properties. Ni said that real estate comprised the majority of the firm's American investments. RCA reported that Chinese companies plunked down $5.95B in US commercial real estate last year, double the 2013 amount. [Bloomberg]
