Chapter 374: Shopping Spree (1)
Chapter 374: Shopping Spree (1)
Lu Jiaxin had been consistently short-selling at HSBC, refraining from doing the same with the other two banks and instead withdrawing her funds. Across the three bank accounts, she now had over 87 million green dollars, plus the previous balance of over 13 million, totaling well over 100 million green dollars. Such a substantial sum could not remain idle in the banks.
She summoned Tan Gang and He Bin, having already informed them of her intention to invest in real estate half a month ago. Her instructions were clear: no ordinary residential buildings, only office towers, commercial spaces, and high-end apartments would suffice.
Tan Gang presented Lu Jiaxin with the property information he had carefully selected, all of which met her criteria of prime locations and convenient transportation.
Lu Jiaxin perused the materials intently, finally nodding in approval. "They're all excellent choices. Negotiate with the owners; if the prices are reasonable, we'll acquire them all."
Tan Gang was taken aback, blurting out in surprise, "Boss, the combined value of these properties is 460 million. Even with a mortgage, the down payment will be 140 million!"
Lu Jiaxin did not appreciate being questioned. She looked up at him and replied, "I don't like repeating myself. This is the first and last time I will say this."
Tan Gang's expression turned solemn. He had underestimated his boss's capabilities, and he immediately apologized. Lu Jiaxin's youthful appearance, her origins from the mainland, and the rumors of her connection to Nie Zhan had influenced his perception. Nonetheless, Tan Gang's strong business acumen and meticulous work had earned him a chance from Lu Jiaxin.
After Tan Gang finished speaking, He Bin brought up another matter. "Boss, I received some news from a real estate agent friend this morning. The owner of the Hung Kee Building on Connaught Road is considering selling."
Lu Jiaxin, intent on acquiring office towers for their high rents and significant appreciation potential, straightened in her seat and asked, "Tell me the details about the Hung Kee Building."
He Bin, well-prepared, provided a thorough account of the information he had gathered. "They're asking for 300 million, boss. If you're interested, I'll negotiate with them."
Tan Gang had learned of this opportunity the previous night but had refrained from mentioning it, believing Lu Jiaxin's financial resources to be insufficient for such a purchase. Now, he realized the extent of his boss's wealth.
As He Bin finished speaking, Tan Gang quickly added, "Boss, the market value of that building is around 240 million. Their asking price is over 20% higher."
Lu Jiaxin felt she needed to be more cautious in the future. While the property would appreciate in value by severalfold, she didn't want to be taken advantage of. "He Bin, go and negotiate. See how low they're willing to go."
Tan Gang was frustrated with himself for misjudging his boss's financial strength, which had now given He Bin the upper hand. However, there was an upside to this—their boss was immensely wealthy, and they could expect to acquire more prime properties in the future.
After acquiring Xin Xin Real Estate (formerly Long Yu Real Estate), Lu Jiaxin not only sold off slow-moving assets like residential buildings but also implemented various management regulations, requiring meticulous management of the properties under their name. Of course, these were all borrowed from future management experiences.
Once the two men left, Lu Jiaxin immediately called Nie Zhan to inform him of her intention to acquire the Hung Kee Building. "I've already sent someone to negotiate. What do you think is a reasonable price?"
Nie Zhan was surprised. He hadn't expected Lu Jiaxin to be interested in office towers, but he agreed that they were a better investment than residential buildings or high-end apartments. He asked her to wait for ten minutes while he looked into it.
Ten minutes later, Nie Zhan called back. "The market value of that building is around 240 million. With the current real estate market booming, the seller will definitely ask for a premium. You can secure it for a premium of up to 10%, but beyond that, it's not worth it."
Nie Zhan continued, "However, the owner of this building insists on a cash transaction, which puts you at an advantage."
Lu Jiaxin understood upon hearing his words that there wouldn't be a problem acquiring this building. "Alright, I understand the situation now."
Niezhan smiled and said, "Your lack of experience shows. If you go alone, they'll insist on the $300 million asking price. Let me set up a meeting, and we'll go together."
"I've already sent He Bin to negotiate. If they're interested, you can accompany me there," Lu Jiaxin said. For such a large transaction, subordinates would typically handle the initial negotiations, and only if both parties are agreeable would the top bosses meet to discuss the price.
"Sure," Nie Zhan replied.
He Bin was indeed very capable, and he quickly completed the preliminary work. "Boss, the owner of Hung Kee has invited you to meet tomorrow morning at 9 am at the Hung Kee Building to discuss the deal."
He then added, "Boss, apart from us, there are a few other groups interested in buying the Hung Kee Building, and they are also in negotiations."
Upon hearing this, Lu Jiaxin immediately called Nie Zhan. "Yes, the owner of Hung Kee has invited me to meet tomorrow morning at 9 am at the building. Okay, then I'll head back to the villa tonight. You can pick me up from there tomorrow morning."
He Bin, having overheard the phone call, knew that this purchase was now secure.
Subsequently, Lu Jiaxin called her teacher to request a day off. Being a student had its drawbacks—she had to seek permission for any absence. Although her teacher was quite open-minded, she still felt embarrassed to keep asking for leave!
As expected, her teacher inquired about the reason for her absence.
Lu Jiaxin didn't make any excuses and directly stated the reason. "The owner of the Hung Kee Building has invited me to meet tomorrow at 9 am. It wouldn't be appropriate to ask him to change the timing."
After all, the seller wasn't desperate to sell, and if she requested a change now, they might just find another buyer. The seller currently held the upper hand, and she had to accommodate their schedule.
There was silence on the other end of the line for over ten seconds before her teacher's deep voice finally responded. "Alright, you have tomorrow off."
After hanging up, Lu Jiaxin felt a bit embarrassed, worried that she might have startled her teacher.
The owner of Hung Kee wasn't surprised to see Nie Zhan, as everyone knew how doting he was on his girlfriend and how he had even splurged on a garden villa for her. However, he felt that the rumors were probably exaggerated.
After exchanging greetings, they all sat down. The owner of Hung Kee got straight to the point. "Miss Lu, Mr. Nie, I only accept cash payments for this building, and I require full payment within a week. I won't accept installment payments."
Since they were insisting on a cash deal, it was obvious that they wouldn't settle for the asking price of $300 million.
Nie Zhan replied, "If your asking price is $250 million, we can complete the payment within three days."
Of course, the owner of Hung Kee wouldn't accept that offer. Nie Zhan proceeded to point out all the flaws of the Hung Kee Building, indicating that it wasn't worth the price they were asking. Meanwhile, the owner countered by emphasizing the booming real estate market and asserting that the building would definitely appreciate in value, making it a profitable investment.
This was the first time Lu Jiaxin had witnessed Nie Zhan negotiating a business deal, and she was impressed by his relentless tactics.
As the two men went back and forth, Lu Jiaxin, the buyer, became more of a spectator. After an hour-long verbal sparring match, they finally settled on a price of $262 million, but the owner of Hung Kee insisted on full payment within three days.
Nie Zhan remained silent this time, simply nodding in agreement with Lu Jiaxin.
Lu Jiaxin was excited but managed to maintain her composure. "Alright, once the contract is signed, the money will be transferred within three days."
The owner of Hung Kee extended his hand, and as he shook hands with Lu Jiaxin, he smiled and said, "Miss Lu, you're an unexpected dark horse. It seems we've all underestimated you."
He didn't believe that Nie Zhan was the one funding this purchase. No matter how doting he was on his girlfriend, it was unimaginable that he would spend $260 million on a building for her. Therefore, he concluded that the money must be coming from the young lady before him.
(End of Chapter)
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