Hong Kong Based Cha Family Office Set to Acquire $118M Palo Alto Building
Cha Family continues to grow high end real estate investment portfolio.
The Cha Single Family Office, the Hong Kong based single family office which controls the wealth of the late Cha Chi Ming has purchased a $118 million office building in downtown Palo Alto, California from a local joint venture, paying one of the highest prices per square foot for a Silicon Valley office property so far in 2018.
CM Capital, which was founded by the Cha family’s late patriarch Cha Chi Ming, purchased the 17,178 square foot (1,595 square metre) property from a joint venture between local investment firms Blox Ventures and Law & Associates for nearly double the $52.9 million that the group had paid to purchase the office building in 2015.
- The Hong Kong-based Cha Group was founded in 1949 as China Dyeing Works, a textile manufacturer, by the innovative entrepreneur, Cha Chi Ming. Over the years, its business operations have spanned the globe and included textile and other manufacturing, real estate, technology and financial services.
For further information on the Cha Single Family office and their recent hedge fund, real estate, and private company investments please click here.
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