Not true. Let $S^1$ be the unit circle in $\mathbb C$. Let $\Delta$ be the closure, in the projective plane, of the quadrant $Q=[log\ 2,\infty)\times [log\ 2,\infty)\subset\mathbb R^2$. It is topologically a $2$-simplex. 

Map the product $S^1\times S^1\times\Delta$ to the one-point compactification of $\mathbb C\times \mathbb C$ by giving a proper map from the dense open subset $S^1\times S^1\times Q$ to $\mathbb C\times \mathbb C$, namely
$$
(a,b,(s,t))\mapsto ((e^s-2)a,(e^t-2)b).
$$
Map $S^1\times S^1\times\Delta$ also to the projective segment $\mathbb P^F$ by 
$$
(a,b,(s,t))\mapsto t/s.
$$
The combined map $S^1\times S^1\times\Delta\to \mathbb C\times \mathbb C\times \mathbb P^F$ displays the space you are asking about as a quotient of $S^1\times S^1\times\Delta$. Now look at which points have been identified.
For a point $p$ in the interior of the ``infinity'' side of $\Delta$, $S^1\times S^1\times p$ goes to one point, and a neighborhood of that point in the quotient space looks like the product of an open interval and a cone on $S^1\times S^1$. Thus a neighborhood looks like a cone on the suspension of $S^1\times S^1$, and is not a manifold.