In the Media
Global Appeal: Foreign Investors See New Opportunity in New Jersey

February 13, 2017

Strategic Capital, CCA’s investment and development arm, and its new development Park and Shore are featured in the following article by Real Estate NJ on foreign investment in New Jersey.

https://re-nj.com/global-appeal-foreign-investors-see-new-opportunity-new-jersey/

Phillip Gesue, chief development officer of Strategic Capital, was quoted in the article comparing the real estate business between China and US. “Development is more common in China,” he said. “There’s not really the trade of income-producing assets like you have in the US, where it’s almost like a commodity or an equity that gets traded.”

“What you see is people buying land, building a building and then selling it out as condominiums or holding it as part of a portfolio forever. Our parent company is really actively involved in that business, and in some ways, it was a natural business model for us to follow here in the United States.”

Mr. Gesue also said there was “no question” that foreign capital sources are more active in New Jersey than they were five to 10 years ago. Along with its location and what he sees as the market’s high upside, he pointed to the growth of Asian immigrants here and the overall diverse population.

“All of those things really make for a fertile ground for foreign investors,” he said. “I think that all large investors who have the capacity to come to the states have a tendency to focus on Manhattan, but the value in Jersey is probably much better and it’s a market that a lot of foreign nationals feel very comfortable in. So I think that both of those things bode well for Jersey.”

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