Century Bridge Capital Investors has exited its investment in a $204m (鈧�180m) residential development in China.
In May last year, the private equity firm announced that together with co-investor, Deutsche Finance Group, it had invested $11.1m in the 1,427 unit development in Xuzhou鈥檚 Tongshan District in a joint venture with Zhongliang Real Estate Group.
Century Bridge and Munich-based Deutsche Finance said they closed on their investment in the development last month.
Century Bridge CEO, Tom Delatour, said: 鈥淥ur team of locally based real estate professionals working together with our Chinese joint venture partner, Zhongliang, has enabled us to successfully execute our strategy and complete a timely exit from the investment.鈥�
Century Bridge president, Wei Deng, said: 鈥淥ur timely exit from the Xuzhou investment demonstrates the continuing value that has come from our on-the-ground presence in China and our established relationships with our Chinese partners.鈥�
Deutsche Finance Group CIO, Sven Neubauer, said: 鈥淚nvesting alongside Century Bridge has allowed us to benefit from their experience, established presence in the China residential market and their relationships with local development partners.鈥�
Deutsche Finance Group, an international investment manager and investor based in, specializes in institutional private market investments in real estate, private equity real estate, and infrastructure.
Century Bridge Capital is a private equity firm with offices in Dallas, Texas and Beijing, China. The firm is focused exclusively on investments in the middle-income, residential real estate sector in China鈥檚 growing Tier 2 and 3 cities.
