Cushman & Wakefield, a global real estate services company, announced on October 20 that it made a strategic investment of 150 million dollars in WeWork, one of the world's leading providers of flexible office space.

This investment followed after both companies announced a strategic alliance to provide clients with best-in-class office operations, combining WeWork's proprietary technology and hospitality services with industry-leading facilities and asset management services. by Cushman & Wakefield.

The partnership will also help grow WeWork's new offerings for homeowners and renters through two initiatives.

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The first initiative will focus on helping building owners and corporate occupants improve the daily user experience by using WeWork's proprietary software that will integrate traditional building features, such as access control and reservation systems, with scheduling services and hospitality on site.

The same technology will also provide access to critical asset usage data, guiding capital investments to support leasing, tenant or employee retention, operational efficiency, environmental, social, and corporate governance (ESG) goals. and, ultimately, the return on investment.

The second initiative will allow homeowners to create new revenue streams by operating flexible workspace centers within their portfolio. Over time, as those tenants grow out of the flex space, Cushman & Wakefield's leasing and project management teams will be able to convert tenants into more traditional office spaces, within the same building.

"WeWork is recognized as an innovator in our industry because they have demonstrated their ability to create a tenant experience that engages people, and they have pioneered the use of technology to efficiently manage that experience and the office space that it surrounds it, "said Brett White, Cushman & Wakefield CEO and CEO, in a statement.

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He added that through this partnership, Cushman & Wakefield will scale WeWork's technology offerings around the tenant experience beyond its own branded spaces to the rest of the office market.

"Cushman & Wakefield is our strategic partner as we expand our ability to provide tenants and landlords with the technology and hospitality expertise to drive flexible spatial solutions within their own portfolios. As flexibility has become a priority for customers, Real estate decision makers around the world, we are excited to bring the WeWork product to the extensive Cushman & Wakefield network, ”said Sandeep Mathrani, WeWork CEO in the same statement.

As part of his strategic investment, Cushman & Wakefield Chief Investment Officer and Executive Vice President of Strategic Planning Nathaniel Robinson will serve as an observer on WeWork's board of directors.

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