Reuters 2 June 2013
(Reuters) – A group of investors, including Chinese real estate tycoon Zhang Xin, paid about $1 billion for a 40 percent stake in a landmark New York office building, a person familiar with the deal said on Sunday, in the latest sign of how foreign investors are fueling a U.S. commercial real estate market recovery.
The deal, which closed on Friday, comes in the same week that food company Shuanghui International Holdings Inc agreed to buy pork producer Smithfield Foods for $4.7 billion. That purchase, if approved, would be the largest ever acquisition of a U.S. company by one from China.
Later this week, a summit between U.S. President Barack Obama and Chinese counterpart Xi Jinping on trade and other issues could provide a further boost to Chinese investments.
Read more…
Two big Manhattan property deals signal recovery, China interest
