WeWork Co-Founder Neumann Poised to Unwind Big Bet in San Jose
- Former CEO of startup invested in six sites in the city
- Stake in buildings could fetch more than $150 million
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WeWork co-founder Adam Neumann may exit his bet on development sites in Silicon Valley, paring his real estate holdings after stepping down from the office-sharing company, according to people familiar with the matter.
Neumann’s stake in six sites in San Jose, California, could fetch more than $150 million, said one of the people, who asked not to be identified discussing the private transaction. It would be part of a deal his partner on the projects, Urban Community, is discussing with Westbank Corp., a Vancouver-based real estate firm known for opulent condo buildings. No agreement has been reached and the talks could fall apart, one of the people said.