Century Bridge Capital Real Estate Fund L.P. Announces 4th Portfolio Exit

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Proceeds from $45 million investment in 1,427 unit development returned to investors

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Jun 11, 2018, 07:30 ET

BEIJING and DALLAS, June 11, 2018 /PRNewswire/ -- Century Bridge Capital announced today that Century Bridge China Real Estate Fund, L.P. has successfully exited and repatriated the proceeds from its investment in Wuhan, China. In March 2013, the fund closed on its $30.5 million investment in the 1,427 unit development with the balance of the $45 million investment provided through co-investment in July 2013. Century Bridge partnered with Hong Kong listed residential developer, Coastal Greenland Limited, on the project.

Century Bridge Fund Announces Exit from $45 million investment in 1,427 unit residential development in Wuhan, China

Located in an in-fill, middle-income, residential project in Wuhan, China, the project comprises 162,030 square meters and is located in Hankou, Wuhan's traditional downtown business center.

Commenting on the project and the durability of his firm's investment strategy, Century Bridge CEO, Tom Delatour, noted, "As we approach the completion of the investment cycle for the Century Bridge Capital Real Estate Fund L.P. portfolio it is instructive to reflect on the presence we have established in China and what we have learned since we began our operations in China eleven years ago. Having managed through a full market cycle in China's residential market, we have been able to see how our dedicated strategy of focusing on middle class housing in Tier II cities provides a solid framework for managing and safeguarding our investors' capital. Our strong, on-the-ground team of Chinese real estate professionals has been critical in allowing us to identify, secure and work side-by-side with local development partners to underwrite middle-income residential projects. In the Wuhan project working together with our partner Coastal Greenland, we were able to jointly execute our construction and development activities as well as calibrate our marketing strategies for the project in order to maximize sale proceeds and protect our investment multiple."

Century Bridge President, Wei Deng, added, "Local partners such as Coastal Greenland not only work with us on executing the development and marketing processes, but also facilitate both the initial investment and repatriation processes, which can be complex and time consuming for foreign investors who choose to go it alone. Having an established local presence with both Chinese and US professionals and our long-term focus on China and the middle-class housing sector uniquely position us for managing through market cycles as well as securing and executing on new development opportunities."

Century Bridge Capital is a private equity firm with offices in Dallas, Texas and Beijing, China. The firm is focused exclusively on investment in the middle-income, residential real estate sector in China's fast growing Tier II cities. Its China-focused private equity real estate fund, Century Bridge China Real Estate Fund, L.P., raised over $170 million of total committed capital from ten global institutions.

www.centurybridge.com