Back to our thinking

    The rise and fall of WeWork

    Summary

    Thomas White gives his expert opinion in Property Week.

    Commercial Real Estate Partner Thomas White comments in Property Week on the co-working company, WeWork, and their use of special-purpose vehicles (SPVs). 

    Explaining the benefit of SPVs, Thomas says “If the tenant under that lease is an SPV with no other assets, then a landlord is only able to go after that SPV – unless another party has guaranteed the lease in some other way, or there is some form of deposit, bank guarantee or other corporate guarantee in place from the SPV or otherwise.”

    Thomas goes on to say, “If the tenant under that lease is an SPV with no other assets, then a landlord is only able to go after that SPV – unless another party has guaranteed the lease in some other way, or there is some form of deposit, bank guarantee or other corporate guarantee in place from the SPV or otherwise.”

    Read the full article online here

    Share this article

    Similar articles

    More articles from Seddons