Chinese investors enter NY real estate market

June 24, 2008 07:15AM

Chinese investors have renewed their interest in commercial property in the U.S., a Cushman and Wakefield executive said Monday. The Chinese government is looking to divert funds into foreign markets, the first being New York real estate, said Scott Latham, executive vice president of the firm’s capital markets group. Chinese investors were among the bidders in three of the seven properties marketed after Harry Macklowe defaulted on loans earlier this year. A Chinese real estate firm also recently signed a nonbinding lease in the Freedom Tower

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