Embattled Chinese developer Oceanwide Holdings has sold its flagship San Francisco development for $1 billion, taking a substantial loss on what was slated to be the city’s second-tallest tower. Oceanwide also announced that its CEO, Han Xiaosheng, was stepping down. Oceanwide is the same firm behind the Downtown Los Angeles megaproject Oceanwide Plaza, a $1 billion-plus condominium, hotel and retail project which has been stalled for about a year, as well as 80 South Street
source https://therealdeal.com/2020/01/23/chinese-developer-oceanwide-takes-276m-loss-on-megaproject-ceo-is-out/
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