MUMBAI: New York-based The We Company, which runs shared office provider WeWork, on Wednesday said it has formed a $2.9 billion investment platform with global real estate investment firm Ivanhoé Cambridge to acquire and develop properties globally either jointly or in partnership with other investors. The strategic partnership will be led by ARK, The We Company’s new real estate acquisition and management platform, said a statement issued by both the companies. The new platform would focus mainly on the acquisition and development or redevelopment of properties and single or mixed-use real estate projects, across multiple asset classes. “We believe there is enormous upside in disrupting traditional norms of real estate. A subsidiary of the Caisse de dépôt et placement du Québec, one of Canada's leading institutional fund managers, Ivanhoé Cambridge Cambridge held close to C$65 billion in real estate assets as of 31 December, 2018.

Source: Mint May 15, 2019 14:26 UTC