Century Bridge Capital, a private real estate investment fund focused on investing in residential property projects in smaller cities in China, announced today that it has successfully exited and repatriated the proceeds from its investment in Dalian, China.
Century Bridge China Real Estate Fund, L.P. closed on its US$24.5 million investment in the US$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 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.
"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," said Century Bridge CEO, Tom Delatour. "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 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 US$170 million of total committed capital from ten global institutions.