If you missed out on WeWork’s rise to become a $70 billion consciousness-raising and work-redefining epoch in history, and its subsequent fall to a $7.9 billion office subletting troubled SPAC target, well, you are in luck.
Entities tied to [WeWork founder Adam] Neumann have been quietly acquiring majority stakes in more than 4,000 apartments valued at more than $1 billion in Miami, Atlanta, Nashville, Tenn., Fort Lauderdale, Fla., and other U.S. cities, according to court, property and corporate records and people familiar with the transactions. Many of these investments occurred within the past year.
Mr. Neumann has told friends and associates of his ambitions to build a company that would shake up the rental-housing industry, say people familiar with the matter.
We’re sure Masa Son is thrilled with how Neumann is spending all that money he paid him to go away. Anyway, Adam, get on the horn with Bill Ackman: He may not have thought much of WeWork, but he fancies himself a bit of a residential real-estate disruptor, too.