Real estate services company Cushman & Wakefield (NYSE:CWK) said on Friday it had invested $150 million in WeWork Inc, days after the office-sharing firm started trading on the New York Stock Exchange following a merger with a blank-check company.
As part of the investment, Cushman & Wakefield’s Chief Investment Officer Nathaniel Robinson will join WeWork’s board as an observer.
Backed by Japanese investment giant SoftBank Group Corp and once considered a prized bet for the conglomerate’s chief Masayoshi Son, WeWork saw a plunge in its valuation due to concerns over its corporate governance and heavy losses.