CDB Aviation Enlists Stiles Realty
Posted on 4/27/2018Stiles announced today that CDB Aviation Lease Finance DAC ("CDB Aviation"), a wholly owned subsidiary of China Development Bank Financial Leasing Co., Limited ("CDB Leasing"), has enlisted Stiles Realty to lease its first U.S. headquarters to accommodate its regional business platform, CDB Aviation Americas LLC. The group, which specializes in the lease and finance of commercial aircraft, has leased an office at 515 East Las Olas Boulevard, also known as Las Olas Square.
CDB Aviation, currently with a fleet of more than 400 commercial jet aircraft on lease and on order, plans to support a fleet growing to 600 aircraft with a top-tier leasing program based out of its new Fort Lauderdale offices, alongside those in Hong Kong and Dublin. CDB Leasing is a 33-year old leasing company majority owned by China Development Bank, the world's largest development finance institution.
Stiles Realty Vice President Kimberly Barbar executed the lease for CDB Aviation. Las Olas Square, which is undergoing a major reconstruction, is ideally located in the heart of the Fort Lauderdale financial district with direct frontage on Las Olas Boulevard. The reconstruction of Las Olas Square is being managed by Stiles Construction.
"The importance of an international, multibillion dollar company selecting Fort Lauderdale to locate a headquarters office for their U.S. presence cannot be overstated," Barbar said. "CDB has tremendous growth potential, and the sky is literally the limit for their success."
CDB Aviation recently committed $12.6 billion to increase its fleet and is listed on the Hong Kong Stock Exchange (HKEX stock code: 1606).
"CDB Aviation has undergone a remarkable evolution over the past year with a vision to become a true frontrunner of the next generation of industry-leading aircraft lessors," said Peter Chang, CDB's president and chief executive officer. "Our strategic goals include expanding global operations, providing an excellent experience to airline customers in all key markets, diversifying funding sources, and accelerating growth of our aircraft portfolio. A U.S. presence helps us in all of those pursuits."
President of CDB Aviation Americas Michael Dolsingh added: "Kimberly Barbar made a very compelling case for CDB to locate their Americas operations in Fort Lauderdale. This excellent location along one of South Florida's most active thoroughfares will give CDB Aviation vital access to the burgeoning aircraft industry across North America, Latin America and the Caribbean by harnessing the communications and other access advantages and airline community in and around Fort Lauderdale International Airport and South Florida."
Stiles is a full-service commercial real estate firm with a clear mission: Invest. Build. Manage. Stiles services include development, construction, tenant improvement, realty, property management, architecture, acquisitions and financing. Headquartered in Fort Lauderdale, Stiles maintains regional offices in Miami, Fort Myers, Tampa and Orlando, Florida, and has a development office in Charlotte, North Carolina. Stiles is responsible for more than 43 million square feet of office, industrial, retail and mixed-use residential projects throughout the southeastern United States. For more information, please visit https://www.stiles.com or call 954-627-9300.
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