Chinese auto-parts maker may be top buyer of U.S. real estate

Crain's Chicago Business reports:

Wanxiang Group Corp., China's biggest auto-parts maker, said it may have become the largest Chinese corporate investor in U.S. real estate, betting an economic recovery will generate good returns.

The company has invested in more than 60 projects nationwide since 2010 and may buy into more, said Ni Pin, president of Wanxiang's U.S. unit, which is headquartered in Elgin. The investments include office towers, shopping centers, warehouses, homes, medical buildings and student housing, he said.

“We've done very few automobile deals in the U.S. in the past four to five years,” Ni said in an interview after a Committee of 100 conference in New York on April 10. Returns on real estate investments have been “very, very, very” high, he said, declining to give the exact number.

A trend.