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WeWork’s bonds are falling deeper into distress as the office-sharing company confronted another string of negative headlines in the past week -- from an SEC inquiry into its failed IPO to a $1.25 billion third-quarter loss. The company’s $669 million of notes due in 2025 dropped more than 3 cents on the dollar to about 71 cents on Monday, according to the bond-price reporting system Trace. T...
Super fast 5G cellular networks are hot as major wireless carriers from Verizon to AT&T deploy the service, but it’s unclear if the infrastructure is in place for in-home 5G to replace current cable-based broadband. The 5G-enabled future seems kind of distant. Real estate developers would need to put fiber...
I am blessed with the good fortune of working in two of the broader industrial real estate markets in the United States: the powerhouse that is Dallas–Fort Worth and the Eastern Pennsylvania corridor. Though the amounts of cheesesteaks and dairy cattle are vastly different from Dallas-Fort Worth (the smell of manure during the spring will knock you off your bicycle), many of the same issues ar...
Global CRM company Salesforce announced that Salesforce Ventures, its global corporate investment group, has launched a new $50m Consultant Trailblazer Fund. The new fund will provide the next generation of cloud consulting companies and digital agencies with the capital required to build and scale their Salesforce services capabilities for the futu...
Can social awareness improve autonomous cars’ road robustness? That’s what a team of researchers at MIT Computer Science and Artificial Intelligence Laboratory set out to discover in a recent study. They built a system that classifies the behavior of other drivers with respect to their selfishness — in other words, whether drivers are less likely to act altruistically toward other cars. In t...
WeWork is preparing to cut at least 4,000 people from its work force as it tries to stabilize itself after the company’s breakneck growth racked up heavy losses and led it to the brink of collapse, two people with knowledge of the matter said.
The cuts are expected to be announced as early as this week and will take place across ...
Smart technology. Green space. Sustainability. For years apartment owners have been in search of the ideal mix of amenities and building features to attract the best renters. In return, they have been met with an avalanche of suggestions, some of which have hit the mark and others washing out.
For example, while virtual tours of apartments have been heavily marketed by vendors as the next big t...
After months of rumors, Facebook is officially committed to a sprawling lease across three buildings at Hudson Yards. Its decision to move thousands of workers there — the biggest lease in Manhattan in 2019 — marks a turning point for both the Far West Side megaproject and New York City’s emergence as a major technology hub. All told, the social networking giant is taking in excess of 1...
Habi, a technology-driven real estate company based in Bogotà, Colombia, raised $5.5m in pre-seed funding. The round was led by Tiger Global Management, Homebrew and Zigg with participation from Reshape Holdings, FJ Labs, and Supernode Ventures, among others. The company intends to use the funds to launch in three key neighborhoods in the north of Bogotá and to expand to other countries in Lati...
After everything that’s happened at WeWork, shareholders now have a new worry. SoftBank is delaying a $3 billion tender offer for WeWork shareholders. In a letter WeWork sent to shareholders Nov. 8, and obtained by The Real Deal, the Japanese conglomerate’s offer would commence “within five business days of the completion” a $1.5 billion investment in the struggling office startu...