Century Bridge and co-investor Deutsche Finance Group have invested $11.1 million in a real estate development for a middle-income, residential project in Xuzhou, China. The investment will be made through a joint venture with Zhongliang Real Estate Group.
Zhongliang Real Estate Group has already developed projects in several cities in the Yangtze River Delta region.
Deutsche Finance Group’s CIO, Dr. Sven Neubauer, said that it is a good investment because the “Chinese real estate market is being driven by high demand for housing from a rapidly growing middle class and robust growth in the Chinese economy.”
The $204 million project includes a total gross buildable area of 231,535 square meters (2,492,241 square feet) on a site of 74,487 square meters (801,780 square feet) and will comprise approximately 177,573 square meters (1,911,396 square feet) and total approximately 1,427 units.
Deutsche Finance Group, an international investment manager and investor based in Munich, specializes in institutional private market investments in real estate, private equity real estate and infrastructure.
Century Bridge is a private equity firm with offices in Beijing and Dallas. The firm is focused exclusively on investment in the middle-income, residential real estate sector in China’s growing tier 2 and 3 cities.
