HNA Group Co. Ltd. sold its office tower at 123 Mission St. in San Francisco to investment fund Northwood Investors for approximately US$300 million, The Real Deal (New York) reported, citing an unnamed source familiar with the deal.
The 28-story property in the city's SoMa neighborhood was HNA's first on the West Coast, having bought the building for US$255 million in August 2016, according to the May 26 report.
In March, the U.S. arm of Hong Kong-based private equity firm Gaw Capital Partners was reported to be in discussions with HNA Group's HNA Group (Hong Kong) Co. Ltd. for the tower.
HNA has sold more than US$13 billion of assets as of earlier in May as part of its global divestment spree to help repay its mounting debt.
