Ivanhoé Cambridge announce strategic partnership with The We Company
Ivanhoé Cambridge and The We Company are pleased to announce the creation of a strategic partnership to acquire and develop real estate properties globally, 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. ARK’s dedicated professionals will use their strong investment experience and deep relationships with The We Company and Ivanhoé Cambridge to leverage each other’s access to a global real estate pipeline and systematic approach to sourcing, building, filling, and running physical space.
The ARK team will focus mainly on the acquisition and development or redevelopment of properties and single or mixed-use real estate projects, across multiple asset classes that will benefit from the integration of the suite of services offered by The We Companies.
The combination of two complementary skillsets represents an innovation in the global real estate market. While Ivanhoé Cambridge is an expert in real estate investment and development, The We Company has become the most advanced company in the world when it comes to creating collaborative environments.
“We believe there is enormous upside in disrupting traditional norms of real estate. We share the same vision, commitment to social responsibility, and long-term approach towards real estate making this a natural partnership and one that we are confident will be transformational for both companies. The We Company brings its creative and innovative talent, along with its technological and design expertise, which are essential to meeting the new expectations of real estate spaces whether it is in the commercial or residential sphere. ARK brings a strong team of acquisition and asset management professionals and deep relationships with The We Company. I think we will complement each other beautifully,” stated Sylvain Fortier, Chief Investment and Innovation Officer at Ivanhoé Cambridge.
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Richard Gomel, Senior Partner of ARK, said: “The launch of ARK is a major milestone for the The We Company and help drive growth by leveraging The We Company’s extensive real estate experience and network. With its exceptional track record, global experience and reputation, and vast network, Ivanhoe Cambridge is the perfect partner as we begin to build out the business and explore acquisition opportunities around the world.”
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“Only 0.06% of the world’s office space is collaborative and a growing number of businesses desire this type of working space. WeWork is the dominant brand on the global stage and we are convinced of the exceptional growth potential for all stakeholders.”, concluded Mr Fortier.
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About Ivanhoé Cambridge
Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.
Vertically integrated in Canada, Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,000 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held close to C$65 billion in real estate assets as at December 31, 2018 and is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada's leading institutional fund managers. For more information: ivanhoecambridge.com.
About The We Company
Founded by Adam Neumann and Miguel McKelvey in 2010, The We Company comprises three distinct business lines - WeWork, WeLive, and WeGrow - that further our mission to elevate the world’s consciousness. WeWork’s mission is to create a world where people work to make a life, not just a living; WeLive’s mission is to build a world where no one feels alone; and WeGrow’s mission is to unleash every human’s superpowers. The We Company began 2019 with 425 locations in 100 cities across 27 countries, and has over 400,000 members, which includes 30% of the Fortune 500. For additional information, please visit www.we.co
About ARK
ARK is an affiliate of The We Company and serves as its new global real estate acquisition and management platform based in New York City. ARK’s focus is acquiring, developing, and managing select real estate assets in global gateway cities and high-growth secondary markets. ARK collaborates with The We Company to apply The We Company’s existing, new, and developing products and methods of community and space management to ARK-owned real estate and leverage The We Company’s relationships with partners and enterprise member companies to create vibrant fully-programmed ecosystems.
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