Asia Investors Seeking US Properties

May 22nd, 2014 by admin Leave a reply »

Brickell-FlatironOver the last year or so, Asia investors have increasingly been purchasing US properties. In the second quarter of 2013, Grand China Fund (a real-estate investment firm based in Beijing) took an 80 percent stake in a 286-unit Houston rental complex. A similar statistic was seen in 2012 in Atlanta with a 170-unit residential project. According to Esther Fung’s Wall Street Journal report, Asia investors are moving out of traditional New York, LA and San Francisco for property purchase.

If this trend continues, Miami could soon become the next hot spot for outside investors.   Earlier this month, in a recent news article, Charlie Rosier, a Blackfish director, said “Chinese investment in Miami, Florida’s biggest city, accounted for 3.7 per cent of the city’s property sales.” Gray Swoope, CEO of Enterprise Florida, echoed this sentiment. He said, “Miami has been described as the Hong Kong of Latin America. South Florida has a huge advantage for Chinese businesses looking to locate their headquarters for Latin America.”

A few weeks ago, 552 residential units at Brickell Flatiron developed by Valdimir Doronin of CMC Group went on sale. Designed by architect Luis Revuelta the unique building located at the north of the Metromover tracks and the current Flatiron Park.

In addition, for foreign investors looking for a piece of New York, the new Flatiron Building might be just what they are looking for. Designed just like the iconic Flatiron building in Manhattan (due to its triangular shape), it could be said that a little piece of New York has arrived in Miami.

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