{"id":1004324204,"date":"2019-05-16T04:06:53","date_gmt":"2019-05-16T12:06:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004324204"},"modified":"2019-05-16T06:51:50","modified_gmt":"2019-05-16T14:51:50","slug":"wework-forms-real-estate-investment-platform","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/","title":{"rendered":"WeWork Launches $2.9B Investment, Management Platform"},"content":{"rendered":"
\"\"<\/a>

Brooklinen team at WeWork. Image courtesy of WeWork<\/i><\/p><\/div>\n

The parent company of WeWork is trying its hand at real estate investing with help from Canadian pension giant Ivanho\u00e9 Cambridge. The We Co. has set up a new property acquisition and management platform, dubbed ARK, with initial plans to deploy around $2.9 billion in total equity capital.<\/p>\n

The newly formed platform builds upon the existing WeWork Property Advisors business, a joint venture between The We Co. and private equity firm Rh\u00f4ne Capital that has already picked up a slew of property assets, including the flagship Lord & Taylor building<\/a> on Manhattan\u2019s Fifth Avenue.<\/p>\n

The investment unit will focus on acquiring, developing and managing property assets in global gateway cities as well as high-growth secondary markets. The We Co. will deploy its WeWork offerings in the spaces owned or operated by ARK, including its Enterprise business which now accounts for more than 40 percent of global WeWork memberships.<\/p>\n

Ivanho\u00e9 Cambridge, a unit of pension fund manager Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec, had nearly $47.6 billion of real estate assets under management as of year-end 2018. The institutional investor is providing \u201csubstantial\u201d capital to ARK, according to a statement by The We Co. Sylvain Fortier, chief investment and innovation officer at Ivanho\u00e9 Cambridge, noted in a prepared statement that collaborative space has huge potential for growth as it accounts for just 0.06 percent of global office space. A 2018 survey by Yardi Matrix of 20 metros across the U.S. found that 1.7 percent of total office inventory was being rented as shared space, or 43.5 million square feet.<\/p>\n

Continued growth spree<\/h2>\n

Aside from promising upside for pension managers, the new arrangement may placate investors who are reportedly concerned about potential conflicts of interest involving properties partially owned by WeWork co-founder Adam Neumann. The entrepreneur told the Financial Times<\/em> that any asset he owns that is occupied by WeWork or has potential for a WeWork venue in the future would be transferred to the new company.<\/p>\n

In the meantime, WeWork\u2019s office leasing spree continues unabated in its hometown of Manhattan, where the company has rapidly become the largest private office tenant. The We Co. separately announced two new leasing deals totaling more than 118,000 square feet within 48 hours this week.<\/p>\n

WeWork will take approximately 50,000 square feet at 30 Wall St., spanning across the 2nd<\/sup>, 3rd<\/sup>, 4th<\/sup>, 6th<\/sup> and 11th<\/sup> floors of the 12-story office building in Manhattan\u2019s Financial District. The new space will be used for the headquarters by WeWork offering, which allows companies to set up private customized workspaces.<\/p>\n

The brand has also agreed to take up 67,858 square feet across five floors at 419 Park Ave. S., a 20-story midtown office tower owned by Walter & Samuels. WeWork plans to open the location to its members in the fourth quarter and will have signage and a newly renovated, dedicated entrance on 29th<\/sup> Street.<\/p>\n

The company said last month it planned to file for an IPO.<\/p>\n","protected":false},"excerpt":{"rendered":"

The We Co. teamed up with Ivanho\u00e9 Cambridge to create ARK, which will focus on acquiring, developing and managing real estate properties in global gateway cities and high-growth secondary markets.<\/p>\n","protected":false},"author":744,"featured_media":1004324216,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21825,21783,1600,21742,10,21747],"tags":[33565,45614,45611,37852,33678],"class_list":["post-1004324204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-finance","category-investment","category-new-york","category-latest","category-northeast","category-office","tag-ivanhoe-cambridge","tag-rhone-capital","tag-sylvain-fortier","tag-walter-samuels","tag-wework"],"acf":[],"yoast_head":"\nWeWork Launches $2.9B Investment, Management Platform - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WeWork Launches $2.9B Investment, Management Platform\" \/>\n<meta property=\"og:description\" content=\"The We Co. teamed up with Ivanho\u00e9 Cambridge to create ARK, which will focus on acquiring, developing and managing real estate properties in global gateway cities and high-growth secondary markets.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-16T12:06:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-05-16T14:51:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/WeWork-Brooklinen.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Greg Isaacson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/\",\"name\":\"WeWork Launches $2.9B Investment, Management Platform - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/WeWork-Brooklinen.jpg\",\"datePublished\":\"2019-05-16T12:06:53+00:00\",\"dateModified\":\"2019-05-16T14:51:50+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1a92010198045e41b0b801129a41b3d8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/WeWork-Brooklinen.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/WeWork-Brooklinen.jpg\",\"width\":800,\"height\":620,\"caption\":\"WeWork members at Brooklinen location. Image courtesy of WeWork\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"WeWork Launches $2.9B Investment, Management Platform\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1a92010198045e41b0b801129a41b3d8\",\"name\":\"Greg Isaacson\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/c3761131a0fc41d60a369af57b00072d7482135ec1ca68c0df952bda4d027fc7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/c3761131a0fc41d60a369af57b00072d7482135ec1ca68c0df952bda4d027fc7?s=96&d=mm&r=g\",\"caption\":\"Greg Isaacson\"},\"description\":\"Greg Isaacson is a Senior Associate Editor with Commercial Property Executive and Multi-Housing News. He has been writing about the real estate industry in the U.S. and Asia Pacific since 2014. Connect with him on Twitter: @gregisaacson\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/gregisaacson\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"WeWork Launches $2.9B Investment, Management Platform - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/","og_locale":"en_US","og_type":"article","og_title":"WeWork Launches $2.9B Investment, Management Platform","og_description":"The We Co. teamed up with Ivanho\u00e9 Cambridge to create ARK, which will focus on acquiring, developing and managing real estate properties in global gateway cities and high-growth secondary markets.","og_url":"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2019-05-16T12:06:53+00:00","article_modified_time":"2019-05-16T14:51:50+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/WeWork-Brooklinen.jpg","type":"image\/jpeg"}],"author":"Greg Isaacson","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/","url":"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/","name":"WeWork Launches $2.9B Investment, Management Platform - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/WeWork-Brooklinen.jpg","datePublished":"2019-05-16T12:06:53+00:00","dateModified":"2019-05-16T14:51:50+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1a92010198045e41b0b801129a41b3d8"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/WeWork-Brooklinen.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/WeWork-Brooklinen.jpg","width":800,"height":620,"caption":"WeWork members at Brooklinen location. Image courtesy of WeWork"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/wework-forms-real-estate-investment-platform\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"WeWork Launches $2.9B Investment, Management Platform"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1a92010198045e41b0b801129a41b3d8","name":"Greg Isaacson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c3761131a0fc41d60a369af57b00072d7482135ec1ca68c0df952bda4d027fc7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c3761131a0fc41d60a369af57b00072d7482135ec1ca68c0df952bda4d027fc7?s=96&d=mm&r=g","caption":"Greg Isaacson"},"description":"Greg Isaacson is a Senior Associate Editor with Commercial Property Executive and Multi-Housing News. He has been writing about the real estate industry in the U.S. and Asia Pacific since 2014. Connect with him on Twitter: @gregisaacson","url":"https:\/\/www.commercialsearch.com\/news\/author\/gregisaacson\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/WeWork-Brooklinen.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004324204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/744"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004324204"}],"version-history":[{"count":9,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004324204\/revisions"}],"predecessor-version":[{"id":1004324342,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004324204\/revisions\/1004324342"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004324216"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004324204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004324204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004324204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}