2023-04-13 14:28:49 ET
- A venture formed four years ago by coworking company WeWork ( NYSE: WE ) and private equity firm Rhone has defaulted on a $240M loan for an office tower in San Francisco, California, in the wake of rising interest rates, Bloomberg reported Thursday.
- The building, located at 600 California St. in San Francisco's financial district, reportedly features a WeWork ( WE ) coworking space as an anchor tenant.
- Rhone and WeWork Capital Advisors declined to comment, the article said .
- Last week, (April 7) WeWork ( WE ) adopted a shareholder rights plan in an effort to preserve tax assets.
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WeWork venture said to default on $240M for San Francisco office building