The Numbers Behind WeWork’s Growing Empire
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WeWork Cos. is tapping the bond market for the first time and in doing so, has provided a rare glimpse into the startling numbers behind its breakneck expansion.
The co-working company, which is seeking $500 million to finance yet more growth, has amassed a global portfolio of more than 14 million square feet, approaching the size of the entire office and retail space in London’s Canary Wharf district, according to bond documents reviewed by Bloomberg. In all, the New York company has committed to pay at least $18 billion in rent for that space, the documents show. WeWork declined to comment.