中国银行(Bank of China)正成为投资于困境中的美国商业地产业的最大的非美国银行之一，其驻美银行家正在市场上四处寻觅新交易。
Bank of China is emerging as one of the largest non-US banks investing in the troubled US commercial property sector, and its local bankers are scouring the market for new deals.
世邦魏理仕(CBRE)的数据显示，在美国多数银行陷于瘫痪、商业抵押贷款支持证券市场冻结的情况下，外资银行如今提供逾60%的商业地产债务融资。
With most US banks paralysed and the market for commercial mortgage -backed securities frozen, foreign banks are now providing more than 60 per cent of all debt financing for commercial real estate, according to data from CB Richard Ellis.
这些新来者愿意提供融资，这在一定程度上填补了一个真空，并令人产生希望：至少在美国的几个大市场，下滑的最糟糕时刻也许已经过去。分析师们表示，中行和其它外资银行通过这么做，能够得益于当今尤其具有吸引力的放贷条款和息差。
The willingness of these new players to provide debt goes some way to filling a vacuum and providing hope that the worst of the downturn, at least in big US markets, may be over. In so doing, Bank of China and other foreign lenders are taking advantage of underwriting terms and spreads that are particularly attractive today, analysts say.
中行纽约分行总经理黎晓静表示：“我们的北京总部正鼓励各海外分行参与当地放贷业务，只要我们能够控制风险。”
Xiaojing Li, Bank of China's general manager for the US, says: “Our Beijing head office is encouraging overseas branches to get into the local lending business as long as we control the risk.”
黎晓静表示，得益于保守的指导原则，中行在房地产业没有不良贷款。该行的营销材料称，它只能提供相当于房地产价值65%的贷款，若相关 房地产是酒店，可提供的贷款就更少。但是，尽管多数银行如今对超过5000万美元至1亿美元的放贷敬而远之，但中行积极寻觅并愿意持有更大的头寸。比如， 中行为纽约时代广场附近的纽约时报(New York Times)大楼提供了1.2亿美元。
Bank of China has no non-performing loans in real estate, Mr Li says, thanks to conservative guidelines. Its marketing materials say it lends only 65 per cent of the value of a property – and much less for hotels. But while most banks today balk at commitments of more than $50m-$100m, Bank of China actively seeks larger positions and holds them. For example, Bank of China provided $120m for the New York Times building, near Times Square.
“我们与多家房地产公司保持合作关系，”黎晓静表示。“由于我们持有这些贷款，因此他们知道自己在与谁做生意。”
“We have relationships with real estate companies,” Mr Li says. “Because we keep these loans, they know who they are dealing with.”
中行纽约分行负责商业地产信贷的雷蒙德•乔(Raymond Qiao)表示，与许多其它外资银行一样，中行只对美国几个门户城市（如纽约、洛杉矶和旧金山）的知名商业资产有兴趣。
Bank of China, like many other foreign banks, is only interested in trophy commercial assets in gateway cities such as New York, Los Angeles or San Francisco, said Raymond Qiao, who heads commercial real estate lending for Bank of China in New York.
比如，当房地产投资信托SL Green Realty Corp需要为纽约时代广场的一栋写字楼进行再融资时，就接洽了中行，请中行牵头一个贷款辛迪加。
For example, when SL Green Realty Corp, a real estate trust, needed to refinance an office building in Times Square, New York, it turned to Bank of China to lead the lending syndicate.
中行带来了新资金，它自己提供了4.75亿美元抵押贷款的近一半资金，而该交易中的多数其它银行只是滚动了自己的头寸，还抽出了一部分资金。
Bank of China came in with new money and put almost half of the $475m mortgage on its own books while most other banks in the transaction rolled over their positions and took some money off the table.
SL Green总裁安德鲁•马蒂亚斯(Andrew Mathias)表示：“中国银行拥有庞大的资产负债表，相比其它银行，它更愿意持有大额的抵押贷款投资。”
Andrew Mathias, president of SL Green, says: “Bank of China has a large balance sheet and is prepared to hold large mortgage investments in mortgages compared to other lenders.”