15-05-2019 23:32 via feedproxy.google.com

WeWork is setting up a $2.9 billion fund to buy buildings that it will lease to itself

WeWork has set up a new fund to purchase commercial properties that it will then lease.
The move is a change from its traditional strategy of leasing space from other building owners.
Most of the money in the fund will come from outside investors, but WeWork will have majority control over it.
CEO Adam Neumann plans to sell to the fund properties he's purchased stakes in that WeWork has leased space in.
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