Century Bridge Capital announces exit from second JV investment with Jingrui Holdings
Dallas-based Century Bridge Capital announced it has successfully exited and repatriated the proceeds from its investment in Ningbo, China.
The fund closed on its investment in the $122 million, 840-unit development in March 2016 in a joint venture with Hong Kong–listed national developer, Jingrui Holdings.
The investment represents Century Bridge’s second joint venture residential investment with Jingrui following its first investment with Jingrui in Wuxi, China, from which it exited in December of 2016.
Located in an established in-fill location in Ningbo, the development is Phase III of an ongoing project and benefited from existing project resources. The project is well located near subway and bus transportation, the 1.83 million-square–foot, 200-store Yintai Plaza shopping mall, as well as 1.4 million square feet of adjacent hotel and office space.