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HNA Group marketing $5b US real estate


and one New York hotel – the 165-room Cassa – with a total value of $4 billion. The purchase of the 158,000-square-metre tower at 245 Park, with tenants including JPMorgan Chase & Co, was viewed as a high-water mark for a real estate boom that saw ...


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For full functionality of this site it is necessary to enable JavaScript. Here are the instructions how to enable JavaScript in your web browser. Feb 12 2018 at 4:13 PM Updated Feb 12 2018 at 5:39 PM Save article My Saved Articles Print HNA Group marketing $5b US real estate Share Share via Email Share on Google Plus Post on facebook wall Share on twitter Post to Linkedin Share on Reddit One of several of HNA Group's properties on the block. " width="620" height="350" class="lazy620x350"> 245 Park Avenue New YorkOne of several of HNA Group's properties on the block. Supplied by Sarah Mulholland China's HNA Group is marketing commercial properties in New York, Chicago, San Francisco and Minneapolis valued at a total of $US4 billion ($5 billion) as the indebted Chinese conglomerate seeks to stave off a liquidity crunch.Among the properties on the block is 245 Park Ave, according to a marketing document seen by BloombergHNA bought that skyscraper less than a year ago for $US2.21 billion, one of the highest prices ever paid for a New York office buildingThe company also is looking to sell 850 Third Ave in Manhattan and 123 Mission St in San Francisco, according to the documentThe properties are being marketed by an affiliate of brokerage HFF.HNA's massive debt load is driving the company to sell assets around the worldThe once little-known airline operator became a symbol of China's huge appetite for overseas properties, spending tens of billions of dollars to buy trophy buildings and stakes in Hilton Worldwide Holdings and Deutsche BankNow HNA is shifting gears as China clamps down on what it refers to as "irrational" investments.An HNA representative had no immediate commentA representative for HFF didn't immediately respond to a request for comment. HNA purchased 245 Park Avenue for more than $US2 billion. Supplied High-water mark .market-data-no-chart { display: none !important; } #quotes-five-years .spinner { position: absolute; top: 20px; } #quotes-one-day .spinner { position: absolute; top: 20px; } Related Quotes 5 years 1 Day Last updated: Updating... Last updated: Updating... View full quote Company Profile ASX Announcements Expand ASX Announcements View all announcements Chief executive officer Adam Tan said in November that HNA was looking to sell assets to conform with Chinese government policiesLast month, it agreed to sell a Sydney office building to Blackstone Group for $205 million, Bloomberg reportedIn Hong Kong, the company is inviting outside investors to buy into two land plots it purchased for $US1.8 billion just over a year ago.The US marketing document lists six office properties that are 94.1 per cent leased, and one New York hotel – the 165-room Cassa – with a total value of $4 billion.The purchase of the 158,000-square-metre tower at 245 Park, with tenants including JPMorgan Chase & Co, was viewed as a high-water mark for a real estate boom that saw prices for marquee office buildings in big cities double over a seven-year spanA wave of overseas buyers helped propel prices higher in ManhattanAs those foreign investors have pulled back, the market has slowed.HNA owns more than $US14 billion in real estate properties globally, according to estimates by Real Capital AnalyticsThe conglomerate had amassed $US190 billion of assets as of JuneIt had 185.2 billion yuan ($37.5 billion) of short-term debt as of the end of June – more than its cash and earnings can cover. .article__content>.parsys>div[class*="cq-"]>ul:not(.byline):not(.avatar--list){color: #111;}.aside>.adWrapper:first-of-type {display: none;} .panel--related-quotes .value { font-size: .75rem; color: #fff; } .media:not(.media--gallery) figcaption { height: auto; } .media--gallery .media figcaption { height: 75px; } Bloomberg Share Share via Email Share on Google Plus Post on facebook wall Share on twitter Post to Linkedin Share on Reddit Advertisement titan.requestAd.push("adspot-300x1515-pos1"); Advertisement titan.requestAd.push("adspot-300x600_300x250-pos1"); Commercial Real Estate Related Articles 6 mins ago Otherwise show related author list.--> 56 mins ago Otherwise show related author list.--> 1 hr ago Otherwise show related author list.--> 1 hr ago Otherwise show related author list.--> 1 hr ago Otherwise show related author list.--> Latest Stories 6 mins ago Otherwise show related author list.--> 6 mins ago Otherwise show related author list.--> 7 mins ago Otherwise show related author list.--> More Musk set to turn on SA's batteryWill it work? 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