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China, Inc., Quits U.S. Commercial Property Market

Chinese companies have been unloading U.S. commercial real estate, after piling into the space in recent years. So reports Propmodo.

china 156219 640smallAccording to data from MSCI Real Assets, first reported in The Wall Street Journal, Chinese firms have sold a net $23.6 billion of U.S. commercial properties since the beginning of 2019, after buying a net $52 billion from 2013 to 2018.

HNA Group, which paid $2.2 billion five years ago for 245 Park Avenue in Manhattan, recently sold the property for an undisclosed amount. The Chinese investor continues to owe a $185 million arbitration award to office landlord SL Green.

Read the full article from Propmodo.

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