[blankcheque]

I've heard it's not uncommon to separate low-multiple assets and high-multiple assets into different structures.

In this case, the builds are the low-multiple assets and they're being separated out from the high-multiple asset which is the management company.

[taurath]

Imagine a huge conglomerate who has the ability to take revenues in more than one division - you claim the revenues in whatever the market treats as having a higher multiple, thus inflating your “growth” story and your stock price. To financial folks it looks like you’re shedding old businesses and making a new hit, but in reality it’s a finance trick.

[csande17]

Wouldn't the buildings usually be owned by, like, a subsidiary of WeWork, or a holding company that also owned WeWork, or something?

[lonelappde]

WeWork is the junk company that only exists to funnel investor money to the founder via his other company.