China's HNA Group (Hong Kong) Co., Ltd is in talks to sell a San Francisco office building to Gaw Capital US, according to an unnamed source with knowledge of the discussions, Bloomberg News reported.
HNA purchased the 28-story tower at 123 Mission St. for $255 million in Aug. 2016. The company's discussions with Gaw are preliminary in nature and there is no guarantee of an agreement, the Bloomberg report noted.
The Chinese conglomerate is in the midst of a push to increase its liquidity by shedding assets to repay debt and is aiming for $16 billion in sales in the first half of 2018, Bloomberg added.
Gaw Capital US is the U.S. unit of Hong Kong-based Gaw Capital Partners.