WeWork Venture Defaults on Loan for San Francisco Office Tower
- Building tied up in the default has a WeWork coworking space
- More office landlords are defaulting given higher rates
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A venture started by WeWork Inc. and Rhone Group defaulted on a loan for a San Francisco office tower.
The $240 million loan was for a building at 600 California St. that is owned by funds managed by a venture formed by WeWork and Rhone in 2019 to buy and oversee real estate. The property, which includes a WeWork coworking space as an anchor tenant, is located in San Francisco’s Financial District.