GE RE Invests in Chinese Fund

GE Real Estate, Stamford, Conn., has reported its first commercial real estate investment in China, a $20 million investment in the newly formed CITIC Capital Vanke China Property Development Fund.GE said it will be the sole strategic investor in the fund, which -- together with China Vanke Co. Ltd., the largest publicly listed developer in China -- plans to invest $100-150 million in residential real estate in certain economically developed regions of the country. "Investing in residential properties is the right entry strategy, because it is the most robust and liquid commercial real estate segment in China," said Mark Hutchinson, president of GE Real Estate Asia-Pacific. ".... Also, as the sole strategic investor, we have a right to further co-investment, giving us the potential to scale up the portfolio managed by this partnership significantly." The company can be found online at http://www.gerealestate.com.