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China rental startups push US listings despite familiar WeWoes

Similar to WeWork, Phoenix Tree and Qingke are short on cash and long on leases

NEW YORK -- Two Chinese apartment rental startups are headed for a Wall Street initial public offering this year, despite heavy losses and brewing investor skepticism of the real estate middleman-model in the aftermath of WeWork's failed IPO.

Phoenix Tree Holdings, parent company of Danke Apartment and Dream Apartment, filed late Monday to raise $100 milliona placeholder estimate subject to change, while Q&K International, also known as Qingke, set terms last week to raise about the same amount. 

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