WeWork hires Wendy Silverstein for new real estate fund

Wendy Silverstein leads the division

WeWork officially launched a new real estate investment fund, which is led by Wendy Silverstein. The firm is in talks to acquire a 4.4-acre mixed-use development site in Austin, Texas, from Frank McCourt’s McCourt Global. 

Worth Noting: This fund is operating independently from WeWork’s partnership with the Rhone Group. Although this is a positive step for the co-working giant, it should have been done four years ago.

Be Smart: Wendy Silverstein led the successful liquidation of New York REIT before assuming this role. Bloomberg first reported the news of the hire in July.