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June 16, 2016

Chinese See Seattle as a Global Gateway City


Bruce Haring

This time, Create World bought a vacant 8,748-square-foot site one block from Seattle's famed Pike Place Market. The site, which was purchased from Iowas-based real estate private equity firm Principal Real Estate Investors, will be home to a high-rise residential building featuring condominiums.

Seattle has become a hot market for Chinese investments. Skip Whitney, EVP and head of China Services for Kidder Mathews China Services Team of Seattle and San Francisco, which brokered the Create World deal for both sides, attributed the rise in Chinese interest to the greater upside potential for the city's real estate, compared to more crowded markets such as New York and San Francisco.

"Seattle is being recognized as a first-tier gateway city, given the activity and the other Chinese investing in the market," said Whitney. The Create World deal is the second Chinese investment brokered by Kidder Mathews in the last few months," Whitney said. "And we have several more that we're working."

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