Cindat, a subsidiary of China Cinda Asset Management (1359.HKG), has partnered with Chicago-based Zeller Realty Group to buy a US$300 million office tower in Chicago, the largest investment of its kind outside of the major cities on the East and West coasts, The Wall Street Journal reported. Chinese investors bought US$4.3 billion worth of US commercial property in 2013, but the majority of these investments stayed away from the Midwest. Now, Chinese property investors are looking towards there for value. Cinda, an asset management company, inadvertently expanded into property after building up Chinese property holdings through its purchase of bad loans.
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