WeWork $850 million acquisition of Lord & Taylor Building

Overview:

• WeWork has acquired Lord & Taylor Building for $850 million from Hudson's Bay.
• The building is Lord & Taylor's flagship department store on 5th Avenue New York.
• Private equity company, Rhône Capital, has provided $500 million in funding for the deal.
• Hudson's Bay will use the proceeds for debt repayment.
• Morgan Stanley has provided financial advice to WeWork and Rhône, while Bank of America Merrill Lynch and RBC Capital Markets have acted for HBC.

Katrin Kostadinova - Data analyst