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  • Joel Kubie

WeWork Considers Going Public Via SPAC, Jumping on Growing Trend

Just when you think you saw it all!

The article above goes into detail regarding the SPAC and new rounds of private investments. Speaking with colleagues, fellow brokers, reps, and professionals in the industry - one thing is clear, no one knows how this is possible.

Colleague - " There's got to be more to the business model then we know".

Landlord who leases space to WeWork - " As of last week, they are defaulting on their leases, not even working out termination agreements".

I'm excited to follow this story. As a broker, having a strong pulse on the market, all I can confidently say is that they have A LOT of vacant office space and a ridiculous amount rent obligation. WeWork has had significant employee layoffs and restructuring.

As I said earlier, I'm excited to continue to follow this story and looking forward to seeing them in the news.


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