Former head of Ping An’s real estate arm joins Winter Properties

He'll serve as president of the New York-based firm

New York /
Sep.September 17, 2018 05:00 PM

Rick Singer and 800 Fifth Avenue

Winter Properties has tapped the former CEO of a Chinese insurance company’s real estate arm as its new president.

Rick Singer left Ping An’s U.S. real estate venture — PARE U.S. — earlier this summer as the company pulled back on its investment activity in the U.S. In his new role with Winter Properties, Singer plans to help the development company grow in various cities, including New York, Los Angeles, Boston, San Francisco and Seattle, Bloomberg reported.

“We’re interested in ventures and partners with emerging and well-established developers and owners in high-growth areas of the country where we can play an active role,” Singer said. “We’re agnostic to asset class.”

Back in January 2016, Singer told The Real Deal that PARE was poised to spend “billions of dollars [in the U.S.] over the next two to four years.” But the Chinese government has since cracked down on overseas investment. Ping An’s investments in the U.S. have halted, while existing investments are being controlled by joint-venture partners.

Winter Properties’ holdings are a mix of commercial and residential properties — including 800 Fifth Avenue and 26 West 17th Street. In July, the company bought a commercial building in the West Village for $89 million. [Bloomberg] — Kathryn Brenzel


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)
Real estate stocks push up this week as U.S.-China trade tensions ease
Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Seth Weissman, John Catsimatidis, Mayor Eric Adams
They said what now? Real estate quotes of the week
They said what now? Real estate quotes of the week
From left: Robert Reffkin and Rupert Murdoch (Getty, Compass)
ChatGPT didn’t write this week’s real estate news roundup, we promise
ChatGPT didn’t write this week’s real estate news roundup, we promise
Seth Weissman, Financing
Urban Standard wants to rescue property owners from high interest rates
Urban Standard wants to rescue property owners from high interest rates
From left: Michael Dell with 25 Water Street, Alex Sapir with 261 Madison Avenue and Marc Holiday with One Madison Avenue (Getty, Edge Funds, Sapir Organization, SL Green)
Office properties (yes, office!) got Manhattan’s biggest December loans
Office properties (yes, office!) got Manhattan’s biggest December loans
Harbor Group International CEO Jordan Slone (Getty, Harbor Group, YouTube)
Jordan Slone and his $1.6B want to fund your rentals
Jordan Slone and his $1.6B want to fund your rentals
Salim Assa with 15 West 55th Street
Troubled Midtown rental saga headed for a foreclosure finale
Troubled Midtown rental saga headed for a foreclosure finale
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...