All Forum Posts by: Barry Chien

Investment Info:

Condo buy & hold investment in Seattle.

Purchase price: $204,000,000
Cash invested: $60,000,000

I worked for a Hong Kong public company & high-end luxury residential developer and helped to develop a $204 million condo project called "The Graystone" which is in Seattle's First Hill District.

What made you interested in investing in this type of deal?

LA & San Francisco was already too expensive and crowded while Seattle checked all our boxes.

How did you find this deal and how did you negotiate it?

JLL broker

How did you finance this deal?

$15 million in EB-5 Financing, 25% equity contribution from our local Seattle development partner

How did you add value to the deal?

Due Diligence, Sourcing & Execution

What was the outcome?

A finished product.

Lessons learned? Challenges?

Tech layoffs may affect condo pricing

Password is p4DQaHA* to watch the video

Here is an informative land investment webinar by our Family Office that discusses all the benefits of investing in Colorado & Florida.  Don't let the accent fool you as these investments are being made by generational landowners who know what they're doing in this space.  We currently own $200 million+ in land in our Land Fund I portfolio ( https://www.sumamondekapital.com/portfolio-test/ ) and this webinar focuses in on our new pipeline of land investments.  Enjoy and drop any questions you may have for me in the comments.

Investment Info:

Condo commercial investment investment.

Purchase price: $204

Total transaction was $204 million

What made you interested in investing in this type of deal?

$15m in EB-5, large skin-in-the-game from the local Seattle developer who put in 25% in equity through the land contribution, 75%/25% JV, blue-chip architect & well mapped out condo project.

How did you find this deal and how did you negotiate it?

JLL

How did you finance this deal?

Balance Sheet of a Hong Kong company

How did you add value to the deal?

Sourced & executed the deal

What was the outcome?

It's now built

Lessons learned? Challenges?

I learned about how Chinese developers operate.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes

We're investing in land adjacent to the Denver Int'l Airport, technically in Brighton, CO.  Great area & it comes with water rights!  Looking forward to attending!

Barry