WeWork files for bankruptcy protection

[Michael Baum]

WeWork has filed for bankruptcy protection (Chapter 11) a few days ago. This was the bastion of super cool arbitrage in commercial real estate. Down for the count.

I am only posting this because WeWork has been held up as the successful arbitrage business. I have been watching it for a while and it has always been a bit suspect with ups and downs. The pandemic really sealed it's fate.

https://www.cnn.com/2023/11/06/business/wework-bankruptcy/in...

Now, I am not comparing this to STR arbitrage that gets discussed here but there are some correlations, just on a much bigger scale. Gotta be careful out there. Even with billions in backing.