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Century Bridge Capital exits US$178M China JV project

Century Bridge Capital has exited from its US$178 million joint venture investment with Guizhou Chuangmeng Real Estate.

The project comprised the final three residential phases of an existing development in Renhuai, China, the private equity firm said in an Oct. 24 release.

It added that it has also invested in a US$77 million middle-income residential development with Guizhou Chuangmeng in Xishui, China. According to Century Bridge CEO Tom Delatour, this comprises the first phase of a planned three-phase project of 13 high-rise buildings of 950 residential units, supporting retail, and 1,302 underground parking spaces.

The first batch of 242 units from the first four buildings began presales in July 2019, the release said.