The We Company, the parent firm of WeWork, recently disclosed the creation of a real estate investment platform. The firm highlighted that the latest $2.9 Billion worth platform is created with the support from the Rhone Group, a private equity company. This platform is named as ARK. The Montreal-based company said this platform has received about $1 Billion amount from Canada’s Ivanhoe Cambridge, which is the property division of Caisse de dépôt et placement du Québec.
WeWork, established in 2010, at present is New York’s biggest tenant. The firm is engaged in leasing space on a short-term basis to landlords and clients including startups & Fortune 500 firms. Jonathan Pearce, Executive Vice President, Ivanhoe Cambridge, proclaimed that the American firm is at the lead position for a structural move, in which the way the real estate is purchased, leased and used that will leave behind the investors and landlords who pay no attention to the disruption.
On a similar note, WeWork came into the news as it disclosed that it is opening two additional locations in Montreal. The firm added that these additional spaces will mark the 3rd and 4th offices since in March 2016 WeWork opened its foremost Canadian location in Montreal.
The firm’s first location is supposed to be situated at 1010 Rue Sainte-Catherine Ouest. Reportedly, this space will house more than 2,000 desks with four floors. Reports highlight that this location is planned to open during Q4 of this year. At the same time, the second location, which the firm targets to open during the 2nd half of 2020, is supposed to be located at the Humaniti building. WeWork proclaimed that the two additional locations will add more than 3,000 members in Montreal. This would double the firm’s membership base. Simon Tancredi, Director, Montreal, WeWork, said that the demand for the firm’s product in Montreal has been constantly increasing at an amazing rate.