The lenders for a 20-story office tower in San Francisco owned by an affiliate of co-working space provider WeWork and Rhone Group are suing to foreclose on the Financial District property.
WeWork Capital Advisors (WeCap), an investment arm of the company that acquires stakes in buildings where WeWork leases space, and Rhone defaulted in April on a $240M loan for 600 California Street.
Goldman Sachs Bank USA loaned WeCap $140M in 2019 and Citi Real Estate funding provided $100M in financing. WeWork co-working offices are an anchor tenant in the building.
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