HNA 'only selling one NY property'

Updated 2017-12-21 10:00:34 Global Times

Conglomerate HNA Group is now selling only one project, the Avenue of the Americas building in Manhattan, the company confirmed with the Global Times on Wednesday.

The company's comment contradicted earlier media reports that HNA is selling numerous properties to raise cash.

HNA has put nearly billion worth of property up for sale, including office towers in Manhattan, London, San Francisco and Australia, the Wall Street Journal reported on Monday.

The company owns about billion worth of commercial real estate globally, the US newspaper reported, citing Real Capital Analytics.

"Companies cannot invest chaotically overseas, because chaotic investment creates trouble," HNA Group CEO Adam Tan was quoted in media reports in November.

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