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Global Players Fill the Void as Chinese Investment Slips

In the New York region and nationally, Chinese investments in U.S. real estate have been sharply curtailed since the Chinese government moved last year to restrict outbound capital flows. However, while investment in the region from China and Hong Kong declined 54% in 2017—comparable to the nationwide drop-off—other capital sources have stepped in.

“One of our main strengths has been the large deal transaction business and for years a significant part of it was meeting the insatiable appetite of Chinese investors for large trophy assets in the U.S.,” said Doug Harmon at Cushman & Wakefield. “But just as Chinese appetite has waned, new entrants from around the globe have emerged to take its place.”

Although at least two $1-billion New York transactions were canceled after the Chinese government acted, one 2017 mega-deal did slip in under the wire: HNA Group’s $2.2-billion acquisition of 245 Park Ave. (pictured) from Brookfield.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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