Since 2000, Excel’s management team has dedicated significant resources to research commercial real estate opportunities in China. In May 2005, Excel Partners China Fund signed a contract with Finance Street Holding Co. to purchase a 20-story commercial office tower in Beijing’s financial district. This transaction marks the first time a US fund has purchased an international class-A office project in Beijing. With this first entry position, the Excel team is attracting additional investment opportunities from local Chinese developers and international investors.