Wolf of Xiangjiang

Taifook Group (North America) is definitely a star enterprise in the American commercial real estate. Although it is a foreign-funded enterprise, it has attracted many American real estate elites to join.

Many analysts analyze the success factors of Taifook Group (North America), and the biggest conclusion is that this Hong Kong company implements a local talent management system and the principle that the headquarters will not interfere too much.

But some people wonder why Taifook Group trusts local talents?
After all, Taifook Group's commercial real estate management is very strong.

Little did they know that the dozen or so core executives of Taifu Group (North America) were all loyal officials trained by Lin Zhengjie. Of course, Lin Zhengjie would not train loyal officials first, but would look for outstanding talents first.

What he wants are loyal talents and elites, not loyal mediocre people!
Taifook Group (North America) currently holds more than 500 billion US dollars in commercial real estate in major cities across the United States and Canada, with a focus on New York, Los Angeles, San Francisco, Chicago, Houston, Miami, Vancouver, Toronto and other cities.

From the classification of commercial real estate, it is divided into: office buildings, shopping malls, outlets, industrial real estate (logistics, warehouses), and metropolitan centers.

In early February, Lin Zhengjie came to the headquarters of Taifook Group (North America) in New York, accompanied by Li Guoji, president of commercial real estate.

"Mr. Lin, President Li, welcome to New York!" Johnson, President of Taifook Group (North America), has led the senior management to welcome the boss and superior.

At a glance, there are about a dozen core senior executives, all present today.

Every time Lin Zhengjie came, he would try his best to convene meetings with all the senior executives, brainwashing everyone one by one invisibly to strengthen their loyalty to the Lin family.

To be honest, there are two main reasons for the success of Taifook Group (North America): first, Lin Zhengjie's view of the overall situation; second, the concerted efforts and hard work at a high level.

But why do the top management work together and work hard, especially when the boss is a Chinese?
After all, even if the boss is a white person, his subordinates are bound to be divided and have all kinds of little thoughts.

This involves Lin Zhengjie's personal charm!
This is why even if Li Jiacheng is very powerful, he dare not invest heavily in real estate in Europe and the United States. Because real estate can easily make a company suffer losses, especially if it is not familiar with local laws and regulations.

"President Johnson, are all the guys here?"

"We're all here. Look, everyone is waiting for you!"

“Yeah, I saw you guys.”

Everyone chatted humorously for a while, and it was obvious that Lin Zhengjie also regarded everyone as "brothers"; in addition to the high salary, there was also communication.

Afterwards, everyone walked into the conference room and prepared to have a meeting first. Later, everyone would have dinner together and even go play golf together.

The turnover rate of senior executives working in Lin's company with an annual salary of tens of millions of Hong Kong dollars has been zero in the past 0 years. No one has ever asked to resign, no matter who offers to poach them.

meeting room.

“How are the assets that the departments are preparing to sell going?”

Since October last year, Hong Kong has formulated a cash-out strategy, expecting to cash out assets worth US$10 billion to US$150 billion.

Chelsea Group President Petit said first: "We have packed 26 outlets for sale. These 26 outlets are part of Chelsea Group's 59 outlets. At the same time, Simon Property and Blackstone have both made offers. Currently, Simon Property has the most advantageous price, which is $55 billion."

A great investment!
At the beginning, Taifook Group (North America) spent 40 billion US dollars to buy Chelsea Group, and then developed Oletes on this basis, and subsequently invested less than billion US dollars.

By this calculation, the money invested in the products sold now has almost paid off.

The remaining 33 outlets are all "boutique" and are definitely worth more than 55 billion, worth 75 to 80 billion US dollars.

Lin Zhengjie immediately said, "Simon Property, isn't it the giant of North American shopping malls?"

Pettit replied: "Simon Property already owns nearly 228 shopping centers in the shopping center field, 71% of which are regional shopping centers and 27% are community shopping centers. It has not set foot in outlets and mills (outlets and metropolitan shopping centers), which are gaining momentum, and its asset portfolio is relatively single. Therefore, this acquisition of our packaged outlets is a must-win!"

This is true. Taifook Group (North America) has a complete range of industries developed by Lin Zhengjie, including office buildings, shopping malls, outlets, metropolitan shopping centers, and industrial real estate assets.

Among them, the Metropolitan Shopping Center has only been in operation for three or four years and is not very large in scale.

But the outlet 'Chelsea Group' and another American outlet developer Tanger are on par with each other and are the two largest outlet owners in North America.

Lin Zhengjie said: "The price is 55 billion US dollars, if it is suitable, then release it!"

"clear"

Next, Bob, the person in charge of the office buildings, reported: "In the past two months, we have sold four office buildings and recovered 4 billion US dollars. In the future, we will sell office buildings every month. We expect to sell 15.5% of the office buildings by the end of the year, and recover a total of 40-60 billion US dollars. These office buildings have a medium to low rental rate, and we have retained most of the high-quality office buildings. Especially the office buildings outside Manhattan, the sales proportion is relatively large."

The rental return rate of office buildings in the United States is generally between 6% and 8%, depending on the management situation.

But if you buy at the bottom like Lin Zhengjie and sell at the peak, the annual return rate may exceed 15% (rent plus sale).

Next is the shopping mall department. The shopping mall brand developed by Taifook Group overseas is called "Amazon", which was established two or three years earlier than the Amazon shopping website.

To put it bluntly, Lin Zhengjie originally just wanted to make a profit by using Amazon's signboard to help the brand of Amazon shopping mall.

Amazon Shopping owns 76 shopping centers in North America, half of which are acquired and half are planned and developed.

To run a shopping mall in commercial real estate, there are more steps than just planning, development and building. Another key step is to attract investment and introduce well-known brands. It can be said that some important brands can increase the customer flow of the entire shopping mall.

Amazon Shopping Center not only has 76 shopping centers in North America, but also more than shopping centers in Europe, including the largest shopping center in Europe - Amazon Shopping Center in White City, UK.

Of course, there are also shopping malls in Asia, but the flagship brands are Tideway, Paragon and other brands.

As a global commercial real estate, Taifook’s cooperation with major brands around the world is undoubtedly top-notch.

Shopping malls and office buildings are sold one by one, with several being released at the same time.

When selling assets, Taifook Group (North America) will definitely retain shopping malls, office buildings, outlets, metropolitan centers, and industrial properties.

Finally, the president of the industrial real estate company IndCor said: "We are not going to cash out this time. After all, we are just starting to develop."

Lin Zhengjie nodded and said, "Yes. IndCor is about the future, but we have to stop for the next one or two years. The subprime mortgage crisis in the United States is close to a collapse, further endangering the world economy. Therefore, this cash-out is by no means an unwarranted order from my group, but a well-reasoned analysis of the reasons." Everyone suddenly realized it, because the instructions given by Li Guoji and others before only said that the investment should be adjusted.

Although everyone has some doubts, maybe the boss has discovered some risks and is preparing to reduce the group's debt (with debt, there will be more cash flow).

The meeting lasted for two full hours, after which everyone had a dinner together, and Lin Zhengjie naturally attended.

Lin Zhengjie does not feel sad about selling the assets this time. After all, he can acquire cheaper ones in the future. As long as his management team and company are there, he can wait until after 08 to buy at the bottom.

There will be plenty of opportunities then!

the other side.

At this time, Simon Property was also holding a senior board meeting to discuss the acquisition of 26 outlets from Chelsea Group.

A director asked: "Hilsey Group is not selling the whole outlet as a package, but is selling it in 26 packages. I'm afraid there are some problems. For example, these outlets are not operating ideally!"

President Glasscock said: "We have examined this in detail. These outlets are operating well and there are no major problems. Even if there are some problems, we at Simon Property can rectify them with our rich experience. Regarding this acquisition, our biggest starting point is to enter the outlet industry. So we must acquire these 26 outlets and acquire another The Mills at the same time. With the addition of Metropolis, our Simon retail map will be completely diversified."

What this means is that the acquisition of these 26 AutoTeslas is the stepping stone to opening up this industry.

In the current North American outlet market, Chelsea Group is the undisputed leader, and the second place is Tanger, which has only 40 outlets.

前5大中，有4家是切尔西集团（泰富集团）所属，分别位于纽约、佛罗里达、德克萨斯、伊利诺伊，分别开业于1985、1981、1990、2006年。

Chelsea Group was acquired by Taifook North America in 2002, which means that the first three were developed in the first place, and the latter Illinois was developed later. Except for the New York State which has 90 square feet, the latter three are 70 square feet each.

But in fact, these four companies are not on the sale list this time.

So it is not difficult to see that Chelsea Group is not withdrawing from the outlets. After all, if it really wanted to withdraw, Taifook Group (North America) would sell off the entire Chelsea Group.

By then, the price will probably be 130 to 140 billion US dollars!

After hearing what President Glasscock said, everyone understood the deal and Simon Property Group actually bought it.

Simply put, Simon Property currently only has shopping malls, which are a single business format; if it can enter outlets and metropolitan centers, it will enrich its business and diversify its development.

"This time the Hong Kong consortium has started to sell a lot of commercial properties. It seems that they are planning to quit while they are ahead. This damn richest man in the world has always occupied the largest commercial real estate in North America, Europe, and even the world. Therefore, I support Simon's diversified development." A director said unconvinced.

During this period, Blackstone had not yet developed in the real estate field, so in the commercial real estate field, Taifook (North America) was really number one.

Europe is no exception. Taifook owns the Canary Wharf Group and is also vigorously developing Amazon shopping malls. It owns office buildings in many European countries and its assets are worth 200 billion US dollars.

In terms of commercial real estate in Europe and the United States alone, Taifook has assets worth US$700 billion, or HK$5600 million.

Singapore, Hong Kong and the Mainland are also important regions, and the company has also entered the office markets in South Korea, Japan and Southeast Asia.

There is no doubt that this commercial real estate empire is the largest asset of the Taifook Group.

In terms of real estate development, Taifook mainly focuses on Hong Kong and the Mainland, and also has a small number of apartment development projects in the UK, but basically none in other countries.

However, the entire real estate assets are steadily over HK$1 trillion (current valuation). The remaining assets include media groups, beverage and video groups, clothing groups, and holding companies, with assets worth more than HK$2 trillion.

Glasscock said: "The investment approach of Taifook Group is worth learning. They started to establish diversified development of commercial real estate very early. Although they have few shopping malls, they are all well developed. There is a reason why Simon, Westfield and Amazon are famous. We should learn from them."

Although Amazon Shopping Center has only more than 70 stores in North America, it has more than stores in Europe, which is more extensive than Simon Shopping Center. What is even more admirable is that Amazon Shopping Center is just a brand developed by Taifook in Europe and the United States. In Asia, it also has brands such as Taifook and Paragon, which makes it a truly global enterprise.

Glascock's words, on the contrary, received more approval.

Opponents are worthy of respect, and their shortcomings can be overcome, but it is impossible to make progress by slandering them.

Half a month later, Chelsea Group and Simon Property Group officially reached an acquisition agreement - Simon Property Group spent 55 billion US dollars to acquire Chelsea Group's 26 Atlas hotels.

As soon as this deal came out, some media have begun to report on the mainland at a deeper level.

That is, in the past three months, the world's largest real estate companies have frequently started selling commercial real estate projects, from office buildings to outlets and even shopping malls.

Could it be that the world’s richest man is not optimistic about the market outlook?

As soon as this news came out, it attracted some attention from the market!
Lin Zhengjie is currently in the mainland, doing charity work. This time he donated 5 million Hong Kong dollars to Huaqing University and was also invited to give a speech.

In the early years, Lin Zhengjie donated more than 10 billion to the mainland, mainly to education, medical care, etc., with basic education as the main focus. In the past two years, he has donated a lot to colleges and universities.

This donation of 5 million yuan to Huaqing University is his second donation to this university. The first time was in the 1s, when he donated million yuan.

In Lin Zhengjie's mind, Huaqing University is an important base for China's science and technology. Although he saw someone slandering this university on the Internet in his previous life, Lin Zhengjie did not take it to heart.

If there are 100 overseas students, as long as return to China, it is a big profit, and if return, it is not a loss. If you don't study in Europe and the United States, you can't have a broad vision and better skills.

This is also why the United States later did not allow science students to study abroad, because all the technology was taken away.

Lin Zhengjie had this view in his previous life, and naturally he strongly supports it in this life. He has now donated 5 million yuan to Huaqing University for the Department of Electronic Engineering, hoping that there will be better progress in this area.

At the same time, Lin Zhengjie's total donation this time was 10 billion, and several other universities also received his donations.

Lin Zhengjie's only regret is that he did not strive to build a university in the beginning. Otherwise, let alone 100 billion, even 200 billion or billion would not be a problem.

Of course, since it has become a pity, he can just donate to the university regularly. (End of this chapter)