Another Potential Buyer Shows Interest In Acquiring WeWork
WeWork, engulfed in Chapter 11 bankruptcy proceedings, has caught the eye of another potential buyer.
WeWork, engulfed in Chapter 11 bankruptcy proceedings, has caught the eye of another potential buyer.
WeWork wants to get out of about 200K SF of leases in Los Angeles and Orange counties.
Yet more turbulence has emerged for WeWork as it approaches a possible bankruptcy.
Lawyers for a committee of landlords say the bankrupt coworking company appears to be making "an effort to strong-arm negotiations" with property owners.
The coworking firm said in court filings it would exit its 429 Lenox Ave. location in May, but a WeWork spokesperson said it hoped to reach a deal to stay.
The coworking company's critical negotiations with landlords are slowly bearing fruit.
WeWork got a seven-day extension to make one interest payment. But at the same time, it missed another.
WeWork leased 83K SF across four floors at the 1201 Wilson. Blvd. building in 2018.
The move to restructure WeWork comes at a critical time for Denver’s coworking and office markets.
The Alter Group is WeWork's second-largest creditor, according to its bankruptcy petition filed this week.
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