HNA Group, a conglomerate in China and the parent company of the Hong Kong-listed CWT International (HK:0521) (formerly known as HNA Holding) , is in talks to sell its 21-story 850 Third Avenue in New York, a building under U.S. government’s scrutiny for its proximity to the Trump tower, Bloomberg reported citing sources familiar with the matter.
HNA is hoping to sell the building to B&L Management Co. which values the building at $452 million. HNA and its partners acquired the property for $463 million in 2016, according to the report.
Bloomberg further noted that HNA is also in talks to sell luggage company Swissport Group. The debt-ridden company has sold over $17 billion in assets this year, after agreeing to sell its stakes in Radisson Hospitality AB to Jin Jiang International Co. and 30% stakes of its aircraft lessor Avolon to Japanese investment company Orix T for $2.2 billion last week.
