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WeWork gets $150 million investment from real estate services firm Cushman & Wakefield -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. A screen showing the WeWork logo during an IPO of the company on the New York Stock Exchange floor in New York City (U.S.A.), October 21, 2021. REUTERS/Brendan McDermid

(Reuters) – Real estate services company Cushman & Wakefield (NYSE:) said on Friday it had invested $150 million in WeWork Inc, days after the office-sharing firm started trading on the New York Stock Exchange following a merger with a blank-check company.

The investment comes months after the two companies announced a partnership https://ir.cushmanwakefield.com/news/press-release-details/2021/WeWork-and-Cushman–Wakefield-Form-Exclusive-Strategic-Partnership-to-Deliver-Innovative-Flexible-Space-Operating-Platform/default.aspx to help expand the suite of WeWork’s offerings.

As part of the investment, Cushman & Wakefield’s Chief Investment Officer Nathaniel Robinson will join WeWork’s board as an observer.

WeWork, once backed by Japanese investment firm SoftBank Group Corp but still a favorite bet of the chief Masayoshi son, saw its value plummet due to worries about its corporate governance.

WeWork reached a deal with BowX Acquistion Corp in March for $9 billion to make it public. This was nearly two years after an unsuccessful initial public offering.

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