Worrisome news surrounding WeWork continues to stream in after the co-working giant’s recent IPO postponement, with the firm’s roster of high-profile staff departures growing by the day and S&P executing a downgrade of its credit status to below junk bond territory. WeWork is a top 36 tenant at 600 properties that are backed by 50 CMBS deals worth $240m . New York contains the biggest WeWork CMBS footprint followed by California and Massachusetts . The company also recently issued a $240m CMBS to fund its $330m acquisition of 600 California Street in California where WeWork is both the owner and tenant.
WeWork is a top 36 tenant at 600 properties that are backed by 50 CMBS deals worth $240m . New York contains the biggest WeWork CMBS footprint followed by California and Massachusetts . The company also recently issued a $240m CMBS to fund its $330m acquisition of 600 California Street in California where WeWork is both the owner and tenant.