Emerging markets specialist Gramercy has bought back into China’s property sector.
Gramercy, which made big profits a year ago on distressed developer debt in China, has scented an opportunity to repeat the trick.
It argues that distressed bonds of Chinese developers such as Country Garden, which currently trade at a liquidation price of about 8 cents on the dollar, could triple in value when a restructuring is completed.
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Including:
A local private investor has snapped up the multi-let office for £6.1m
Agency sees group-wide rises for leasing and capital markets revenue
The refurb is set to deliver 250,000 sq ft of office space at 125 Shaftesbury Avenue
Fund house picks up city site from Nuveen
