As HNA Group’s debt troubles seem to go from from bad to worse, the company is now planning on selling of about $16 billion in assets in the first six months of 2018, Bloomberg reports.
But HNA is not the only company with a global portfolio whose wings are being clipped by the Chinese government’s efforts to stymie capital outflows: Dalian Wanda Group and Anbang Insurance Group are also putting properties on the market — or being asked to, in the latter’s case, according to Bloomberg.
Here’s a look at what is, or could be soon, on sale from the Chinese investment powerhouses’ holdings:
Hilton Worldwide Holdings
HNA bought a 25 percent in Hilton last year from Blackstone. The terms of the deal prevent HNA from selling its stake until 2019.
Two office buildings in London’s Canary Wharf
HNA reportedly approached brokers about a sale of its two London properties in the area.
HNA’s slice of Manhattan
Though the group has not indicated any movement in its New York City holdings, HNA owns 245 Park Avenue, 850 Third Avenue and 1180 Avenue of the Americas.
One Nine Elms
One of London’s largest resi projects, currently owned by Wanda, is officially on the market in the Nine Elms area of the city.
Chicago and Beverly Hills properties
Wanda is also reported to be selling off its last two foreign development properties, which cost the company a combined investment of $2.1 billion.
Anbang bought the property, now closed and under renovations, for $1.95 billion.
Strategic Hotels & Resorts
Anbang’s biggest foreign assett, which the company acquired for $6.5 billion, is this Chicago hotel group that counts San Francisco’s Westin St. Francis and New York’s JW Marriott Essex House as notable parts of its portfolio.
Anbang’s Big Apple properties
The company owns 717 Fifth Avenue, the location of Anbang’s American headquarters, and 70 York Street. [Bloomberg] — Erin Hudson
Related Posts:We truly are under attack. We need user support now more than ever! For as little as $10, you can support the IWB directly – and it only takes a minute. Thank you. 375 views