When a loan to the We Company’s newly-formed $2.9 billion property investment fund, ARK, was taken to the commercial mortgage-backed securities market in August, analysts had some concerns. Beyond conflict-of-interest issues stemming from the fact that ARK was using the loan to finance its purchase of 600 California Street, where WeWork would be the largest tenant, credit analysts from Morningstar and S&P Global also questioned the very viability of the company and its business model. […]
source https://therealdeal.com/national/2019/09/13/inherent-risk-ratings-agencies-have-had-doubts-about-wework-for-years/#new_tab
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