WeWork has yet to close the deal to buy the former Lord & Taylor flagship store in Manhattan announced last October, and is still seeking an equity partner to fund the acquisition. That vehicle, WeWork Property Advisors, had raised $404 million through four separate funds as of March, SEC filings show. WeWork Property Advisors, which was scheduled to close the deal in August, paid an additional $25m deposit to move the deadline to 13 November. The company, which previously paid a deposit of $75m, has one more option that allows it to pay another $25m to push the deadline to 31 January. In its statement, WeWork said it had been working with “several partners” on the deal, including Goldman Sachs, JPMorgan Chase and Centerview Partners.
WeWork has yet to close the deal to buy the former Lord & Taylor flagship store in Manhattan announced last October, and is still seeking an equity partner to fund the acquisition. WeWork Property Advisors, which was scheduled to close the deal in August, paid an additional $25m deposit to move the deadline to 13 November. The company, which previously paid a deposit of $75m, has one more option that allows it to pay another $25m to push the deadline to 31 January. In its statement, WeWork said it had been working with “several partners” on the deal, including Goldman Sachs, JPMorgan Chase and Centerview Partners.