LOS ANGELES—It's no secret that Chinese investors are looking for opportunities in the Los Angeles market. In addition to the big names—Greenland being the biggest—smaller Chinese investors are looking for opportunities to place capital here. To help these investors find those opportunities, SunCapital is focusing on forming equity partnerships with Chinese investors for local projects.
“We see many Chinese people coming to the US and buying real estate with all cash,” Wei Chen, chairman of SunCapital, tells GlobeSt.com. “There is a mega trend from the Chinese society and community to develop wealth here, and many of them are moving here for education and legal system. They aren't just moving here and living here, but they want to invest in real estate here as well. There are huge amounts of capital going into both existing real estate and development. Our team is helping Chinese investors to reduce their risks or avoid unnecessary risks through the connections that we have. We have good partners locally and are working with the local community.”
While the firm focuses on all asset classes, hotel developments are very popular among these investors. SunCapital is currently developing the Cambria Hotel, an affordable hotel property adjacent to the Convention Center in Downtown Los Angeles. Chen, Chris Atkinson and Barry Beitler are developing the project, and Chinese equity investors are funding the development. The project has 247 guestrooms and is 18 stories tall.
SunCapital's is focusing on Chinese investors because much of this capital is unfamiliar with the US or Los Angele market. “Our business model is primarily to bring Mainland Chinese investors and developers into the market to facilitate projects like this,” Phillip Powers, CEO of SunCapital, tells GlobeSt.com. “Unlike a number of Chinese investors like Greenland, we partner with local developers, like Chris Atkinson and Barry Beitler, to ensure that we are really affectively addressing the needs of the city, but also the process, which is complicated. Even if you have a project that is exactly what the city wants, there is still a long approval process. That is the nature of our business plan, and we want to deliver capital to projects that are relevant, but do it in such a way that minimizes risks and these investors can fully understand the whole process.”
LOS ANGELES—It's no secret that Chinese investors are looking for opportunities in the Los Angeles market. In addition to the big names—Greenland being the biggest—smaller Chinese investors are looking for opportunities to place capital here. To help these investors find those opportunities, SunCapital is focusing on forming equity partnerships with Chinese investors for local projects.
“We see many Chinese people coming to the US and buying real estate with all cash,” Wei Chen, chairman of SunCapital, tells GlobeSt.com. “There is a mega trend from the Chinese society and community to develop wealth here, and many of them are moving here for education and legal system. They aren't just moving here and living here, but they want to invest in real estate here as well. There are huge amounts of capital going into both existing real estate and development. Our team is helping Chinese investors to reduce their risks or avoid unnecessary risks through the connections that we have. We have good partners locally and are working with the local community.”
While the firm focuses on all asset classes, hotel developments are very popular among these investors. SunCapital is currently developing the Cambria Hotel, an affordable hotel property adjacent to the Convention Center in Downtown Los Angeles. Chen, Chris Atkinson and Barry Beitler are developing the project, and Chinese equity investors are funding the development. The project has 247 guestrooms and is 18 stories tall.
SunCapital's is focusing on Chinese investors because much of this capital is unfamiliar with the US or Los Angele market. “Our business model is primarily to bring Mainland Chinese investors and developers into the market to facilitate projects like this,” Phillip Powers, CEO of SunCapital, tells GlobeSt.com. “Unlike a number of Chinese investors like Greenland, we partner with local developers, like Chris Atkinson and Barry Beitler, to ensure that we are really affectively addressing the needs of the city, but also the process, which is complicated. Even if you have a project that is exactly what the city wants, there is still a long approval process. That is the nature of our business plan, and we want to deliver capital to projects that are relevant, but do it in such a way that minimizes risks and these investors can fully understand the whole process.”
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