China Properties Developments, Inc.(CPDV), through its majority owned subsidiaries, is primarily engaged in the acquisition and development of land holdings, and the development, sale, rental, and management of mixed-use residential, commercial and office properties in the City of Xi'an, the capital of Shanxi Province in China, recently filed its Form 8-K with the United States Securities and Exchange Commission announcing its Introducing Broker Agreement with Sandler O'Neill Mortgage Finance L.P. ("Sandler O'Neill").
Sandler O'Neill has been engaged by China Properties Developments Inc. to introduce the Company to one or more banks or other financial institutions to facilitate one or more loans or financing to the Company for the express purpose of financing the Yan-Ta Shopping Plaza, located in Xi'an, China.
The Loan may facilitate the development and construction of the Shopping Plaza being developed by Shaanxi Xinyuan Real Estate, Co. Ltd., a Chinese company to which China Properties expects to obtain a controlling interest under a purchase agreement dated February 16, 2006.
The Loan will be subject to the execution of all loan commitments and customary loan agreements to be executed between the Company and the Lender. The Company shall determine, in it soles discretion, whether to enter into any transaction with a Lender.
Mr. Charles Smith, Vice President, Sandler O'Neill Mortgage Finance said, "We are excited to be working with China Properties Developments Inc. Our team will focus on communicating China Properties' needs to the financial community and introducing China Properties Developments Inc. to potential funders for the Yan-Ta Shopping Plaza development project."
Steven Lou, Director, Executive VP and CFO of China Properties Developments, Inc., stated, "We are very pleased to have engaged Sandler O'Neill as China Properties' Introducing Broker. Sandler O'Neill is one of the largest investment banking firms serving the real estate industry and we are confident they will greatly assist China Properties in attaining our long term corporate financing objectives."
Source:佚名