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A Manhattan real estate tycoon predicted WeWork would run into problems

Adam Neumann WeWork CEO

  • The boss of a billion-dollar real estate group predicted WeWork would run into problems.
  • “We studied WeWork and we’re not comfortable with their business model and credit,” Paramount CEO Albert Behler said on the group’s earnings call this week, adding the coworking startup’s fall from grace “occurred a lot sooner than I anticipated.”
  • Behler emphasized the risk of WeWork’s tenants ditching their spaces in a downturn, leaving the company on the hook to landlords.
  • of Business Insider’s WeWork coverage here.

The boss of a billion-dollar real estate group predicted WeWork would run into problems.

Paramount, which owns skyscrapers on Wall Street and Fifth read more >>>

Source:: BusinessInsider.Com