YanGo buys development site in China
China-based YanGo Holding Group has acquired a 50 percent stake in a two-property portfolio in Xiamen, China, valued at $286.8 million from ZinZhihua Investment Management. The portfolio consists of 1.97 million square feet of land with the potential to become an office, retail and residential mixed-use development. In April, YanGo Holding purchased two parcels totaling 1.6 million square feet in Quanzhou, China, for $72.7 million. Residential development is planned for the two properties.