acquires

City Football Group Acquires Sichuan Jiuniu FC, Increases Investment In Chinese Soccer

MANCHESTER, ENGLAND - FEBRUARY 10: Khaldoon Al Mubarak the Chairman of Manchester City and Ferran Soriano the Chief Executive Officer look on prior to the Premier League match between Manchester City and Chelsea FC at Etihad Stadium on February 10, 2019 in Manchester, United Kingdom. (Photo by Alex Livesey - Danehouse/Getty Images)Getty

China is seen as one of the up-and-coming soccer markets in the world, particularly after President Xi Jinping declared a prioritization and reform of the sport’s infrastructure throughout the country; the soccer superfan hopes one day China will not only host the FIFA World Cup, but will eventually win soccer’s grandest prize.

While the Chinese Super League, the nation’s top domestic league, has continued to lure talent from Europe’s top leagues with eye-popping salaries, investment in Chinese soccer has seen growth as well.

City Football Group (CFG), the parent company of Manchester City FC (English Premier League), New York City FC (Major League Soccer) and Melbourne City FC (A-League), has added to its extensive portfolio—and investment in China—by acquiring Sichuan Jiuniu FC of China League Two.

“We believe strongly in the future of football in China,” City Football Group CEO Ferran Soriano said in a release. “We are making a long-term, sustainable commitment to grow and develop Sichuan Jiuniu FC and to nurture Chinese footballing talent.

SHANGHAI, CHINA - NOVEMBER 07: Wu Lei of Shanghai SIPG gets away from challenge during the 2018 Chinese Super League title match between Shanghai SIPG v Beijing Renhe at Shanghai Stadium on November 7, 2018 in Shanghai, China. (Photo by DI YIN/Getty Images)Getty

The Chengdu-based club, which plays its home games at the 27,000-capacity Chengdu Longquanyi Football Stadium, becomes the seventh in CFG’s portfolio along with Yokohama F Marinos (Japan), FC Girona (Spain), Club Atletico Torque (Uruguay) and the aforementioned three organizations.

The purchase of Sichuan Jiuniu FC was in partnership with UBTECH, an AI and humanoid robotics company headquartered in Shenzhen, and China Sports Capital, a fund focused on the investment opportunities in the global sports industry where China is relevant.

CFG already has a well-established presence in China with offices in Shanghai and Shenzhen, as well as commercial partnerships and community projects; City coaches operate in schools throughout the country as part of a Chinese Ministry of Education program.

In 2015, City Football Group sold a 13-percent stake for $400 million to Chinese investors of China Media Group Holdings in an effort to increase City’s popularity in the country. At the time of the sale, Manchester City were the second-most followed club on the Chinese social media platform Weibo.

“China is an extremely important football market, which we have been focused on for some time,” Soriano said. “... We see this as a natural extension of our existing activities.”

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Next Realty acquires Arlington Executive Plaza

ARLINGTON HEIGHTS -- An affiliate of Next Realty, LLC has acquired Arlington Executive Plaza, a medical and general office complex consisting of six, single-story buildings located at 3335--3385 N. Arlington Heights Road in Arlington Heights.

Terms of the acquisition were not disclosed.

The six buildings at Arlington Executive Plaza total approximately 62,500 square feet of space and are situated on more than 6.2 acres of land. The property is 90 percent leased, nearly half of which are tenants who specialize in medical related fields.

"Given the diverse nature of the tenant mix, the investment presents an opportunity to acquire a stable revenue stream and generate an attractive yield for our investors," says Branko Kuzmanovic, director of acquisitions of Skokie-based Next Realty.

Tony Lombardo of PSI represented the Seller in the transaction. The acquisition was financed by Wintrust Bank.