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China Minsheng Buys 80% Stake in SF Bayside Project for Reported $100M

May 15, 2017

by Greg Isaacson : mingitandi – excerpt

One of China’s largest private investment groups has teamed up with partners in the US to invest in a waterfront development site in San Francisco, joining a growing number of mainland and Hong Kong investors that are betting on the booming Bay Area property market.

A real estate developer controlled by China’s Minsheng Investment Group acquired an 80 percent interest in the fully entitled luxury residential site located two blocks away from the Bay Bridge, for approximately $100 million, according to local media reports…

The only entitled development site on the waterfront, the project was narrowly approved by the city’s Board of Appeals amidst some controversy about its design and expected impact on the neighborhood. Global property consulting firm JLL concluded the transaction as the exclusive sales agent, while law firm Paul Hasting served as a legal advisor to SRE Group on the deal…

The proposed project is located at 75 Howard Street, next to the iconic Embarcadero boulevard along San Francisco Bay…(more)

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