A joint venture started by WeWork and Rhone Group in 2019 has defaulted on a $240M loan for an office tower at 600 California Street in San Francisco's Financial District.
WeWork coworking offices are an anchor tenant in the 20-story building, which is owned by funds that were formed in a venture aiming to buy and oversee real estate, Bloomberg reported.
When it formed the venture in 2019, WeWork had 25K members across 26 Bay Area locations as well as a large office at the Bishop Ranch complex in San Ramon.
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