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A WeWork Inc. WE venture with private equity firm Rhone Group has defaulted on a loan on a downtown San Francisco office building, according to a report Thursday. Bloomberg News reported that the venture defaulted on a $240 million loan on building at 600 California St. in San Francisco’s financial district. Last week, WeWork’s board adopted a tax asset preservation plan. WeWork shares rose 1.8% to 49 cents a share Thursday.
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