Boston Project Draws Chinese Insurance Firms’ First U.S. Investments
Wall Street JournalApril 07, 2015
China’s two largest insurance companies are buying a majority stake in Pier 4, a $500 million project located in the Boston Seaport area. The Pier 4 development includes a 13-story office building projected to be completed in the second half of 2017, and a nine-story condominium tower with 100 units expected to be completed in the first quarter of 2018.
For Tishman Speyer, the Boston transaction shows its China strategy is paying off. The firm entered the China market as a developer, and has begun to partner with Chinese investors in U.S. deals.