The companies plan to offer an array of services, including financing and acquisition support, predevelopment and entitlement help, and construction management.
“With BCEGI-US’ construction capabilities, our track record of financing even the most complex real estate investments and our shared commitment to bring the very best projects to life, we will put our expertise to work on behalf of developers and investors,” Alexander Shing, Cottonwood’s chief executive, said in a statement.
The funds will also be used for construction loans, project restructuring, distressed asset management and ground-up development. Target markets will include Los Angeles; Seattle; San Francisco; San Jose; San Diego; New York; Boston; Chicago; Washington, D.C.; Houston; and Dallas.
BCEGI-US is the investment arm of Beijing-based Beijing Construction Engineering Group. It specializes in real estate development, investment, acquisition and construction, and operates in 27 countries. It has more than $800 million worth of assets under management.
Cottonwood focuses on large-scale projects and has more than $3 billion worth of assets under management. Its investments include a $190 million construction loan for the master plan development of Hollywood Park.