China-based real estate company buys numerous lots, land in northern Nevada for $7.4 million

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Updated: 9/24/2012 7:02 pm
RENO, Nev. (KRNV & -- Beijing, China based Xinyuan Real Estate Co. Ltd. purchased a portfolio of 325 finished lots and 185 acres of raw land across northern Nevada for $7.4 million, according to Lou Berrego of West Haven Development Group.

The properties, which had been owned by Wells Fargo Bank, extend from Wingfield Springs to Washoe Valley to Gardnerville, Berrego says.

The deal was closed in May 2012 and was the first U.S. market property purchase the company has ever made.

The company, along with Lou Berrego, looked at over 100 properties across the United States, including properties in Miami, Chicago, Orange County and New York. The first deal picked was the Reno area properties.

Since their first U.S. land transaction in May, they have bought additional properties in Orange County and New York.

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WakeUpAmerica - 9/24/2012 5:31 PM
0 Votes
Come on America! Stand up for what our soldiers fought and died for! WAKE UP! Our freedoms are being taken by one! THIS COUNTRY IS OURS! STAND UP FOR IT!

Kramer - 9/24/2012 4:15 PM
0 Votes
This report has an awkward writing style which makes the information seem incomplete. use better grammar and connect sentences, use "purchase" instead of "had bought". Better grammar would improve the limited content. The apparent lack of distinction between "property" and "properties' suggest this is just rote writing, perhaps by a Chinese writer? There is little explanation of what the properties consist of-just generalities.

Bubbles - 9/24/2012 3:38 PM
0 Votes
It's bad enough that the majority of crap we have a choice of buying is made by them now they are taking over the US.

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