China's Debt-Ridden HNA Group Sells San Francisco Tower for $300 Million
- Chinese conglomerate has been selling real estate at a profit
- Second HNA deal with Northwood, led by ex-Blackstone executive
San Francisco, California, U.S.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
China’s beleaguered HNA Group Co. is continuing to whittle down its real estate holdings as it seeks to reduce its massive debt load.
The company sold a San Francisco office tower, 123 Mission St., for about $300 million to Northwood Investors LLC, according to people with knowledge of the matter. HNA made a small profit, having paid $255 million for the property in August 2016.