Chinese developer Zhonghong Holdings has defaulted on more than $174 million debt, just one year after the company tried to buy a $4 billion senior living facility chain. This latest default means that Zhonghong has RMB 2.3 billion ($364 million) in total overdue debt, which amounts to 23 percent of the company’s net assets, according to Mingtiandi, a website that tracks real estate news related to Asia. The default comes just one year after the […]
source https://therealdeal.com/2018/04/24/a-year-after-4b-us-real-estate-play-chinese-developer-defaults-big-on-debt/
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