China Vanke Enters U.S. Property Market With Tishman Deal
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China Vanke Co., the biggest developer listed on Chinese exchanges, has entered a residential-property venture in San Francisco, its first foray into the U.S. real estate market.
The company signed the deal on Feb. 12, Chairman Wang Shi wrote on his microblog on Sina Corp.’s Twitter-like Weibo service, and confirmed by Vanke. The project will be a luxury high-rise condominium, according to statement today from the developer and its partner, New York-based Tishman Speyer Properties LP.