{"id":16524,"date":"2024-04-30T19:09:35","date_gmt":"2024-04-30T19:09:35","guid":{"rendered":"https:\/\/www.yardi.co.uk\/?p=16524"},"modified":"2026-02-26T07:57:15","modified_gmt":"2026-02-26T14:57:15","slug":"yardi-systems-comments-on-proposed-plan-to-support-wework-in-its-emergence-from-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/en-gb\/news\/yardi-systems-comments-on-proposed-plan-to-support-wework-in-its-emergence-from-bankruptcy\/","title":{"rendered":"Yardi Systems Comments on Proposed Plan to Support WeWork in Its Emergence From Bankruptcy"},"content":{"rendered":"\n

Yardi Has Made a Commitment to Provide DIP and Exit Financing Through Its Investing Arm for WeWork if Plan is Confirmed<\/em><\/p>\n\n\n\n

Reinforces Support for the Coworking Sector and WeWork\u2019s Future as a Successful Company<\/em><\/p>\n\n\n\n

SANTA BARBARA, April 30, 2024 <\/strong>\u2013 Yardi Systems, Inc. (\u201cYardi\u201d, \u201cwe\u201d or \u201cus\u201d) today commented on the proposed plan of reorganisation for WeWork, Inc. (\u201cWeWork\u201d or the \u201cCompany\u201d). Under the proposed plan \u2013 which is subject to approval by WeWork creditors \u2013 Yardi\u2019s wholly owned subsidiary Cupar Grimmond, LLC (\u201cCupar Grimmond\u201d) would become a majority shareholder of WeWork following the Company\u2019s successful emergence from the Chapter 11 restructuring process. Existing significant investors and other creditors of WeWork would hold the remainder of the Company\u2019s equity.<\/p>\n\n\n\n

Yardi stated:<\/p>\n\n\n\n

\u201cAs a leading global provider of software and software services for commercial and residential property owners, Yardi is committed to supporting the long-term success of WeWork and the coworking industry. We believe a hybrid workplace is the model of the future, and that we have the experience and innovative technology to help power this transition.<\/p>\n\n\n\n

We initially formed a technology partnership with WeWork in 2022 with the launch of the WeWork Workplace app, which enables companies and employees to seamlessly work in traditional leased and owned office buildings, flex and coworking spaces, or their homes. Since then, we have been highly involved in scaling and developing this software and additional WeWork technology services. In 2023, we were approached to assist the Company by providing capital through our investment arm, Cupar Grimmond, as part of WeWork\u2019s restructuring transaction. Following our participation, we have played a supportive role as a senior secured lender during the Chapter 11 process.<\/p>\n\n\n\n

Yardi chose to invest in WeWork\u2019s latest fundraise by providing debtor-in-possession (\u201cDIP\u201d) and exit financing because we believe the Company\u2019s fundamental value proposition remains intact and that it can have a successful future. Under the plan, WeWork would emerge from bankruptcy with no debt, adequate working capital and positive free cash flow. We intend to help drive the revitalisation of WeWork in a manner that sustainably serves the best interests of its stakeholders \u2013 including the Company\u2019s landlords. Importantly, post-bankruptcy WeWork would be operated as a separate entity managed at arms-length from Yardi\u2019s core business.<\/p>\n\n\n\n

We look forward to continuing to be a supporter of WeWork throughout the remainder of the bankruptcy process and to communicating further with the Company\u2019s various constituencies at the appropriate time.\u201d<\/p>\n\n\n\n

About Yardi<\/strong><\/p>\n\n\n\n

Celebrating its 40-year anniversary in 2024, Yardi\u00ae develops industry-leading software for all types and sizes of real estate companies across the world. With over 9,200 employees, Yardi is working with our clients to drive significant innovation in the real estate industry. For more information on how Yardi is Energised for Tomorrow, visit yardi.co.uk<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Yardi Has Made a Commitment to Provide DIP and Exit Financing Through Its Investing Arm for WeWork if Plan is Confirmed<\/p>\n

Reinforces Support for the Coworking Sector and WeWork\u2019s Future as a Successful Company<\/p>\n","protected":false},"author":621,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16473,16475],"tags":[],"class_list":["post-16524","post","type-post","status-publish","format-standard","hentry","category-news","category-press-releases"],"yoast_head":"\nYardi Systems Comments on Proposed Plan to Support WeWork in Its Emergence From Bankruptcy - Yardi<\/title>\n<meta name=\"description\" content=\"Yardi Has Made a Commitment to Provide DIP and Exit Financing Through Its Investing Arm for WeWork if Plan is Confirmed.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardi.com\/en-gb\/news\/yardi-systems-comments-on-proposed-plan-to-support-wework-in-its-emergence-from-bankruptcy\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yardi Systems Comments on Proposed Plan to Support WeWork in Its Emergence From Bankruptcy\" \/>\n<meta property=\"og:description\" content=\"Yardi Has Made a Commitment to Provide DIP and Exit Financing Through Its Investing Arm for WeWork if Plan is Confirmed.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardi.com\/en-gb\/news\/yardi-systems-comments-on-proposed-plan-to-support-wework-in-its-emergence-from-bankruptcy\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-30T19:09:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-26T14:57:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardi.com\/wp-content\/uploads\/sites\/93\/2025\/04\/Yardi.com_default_1200x1200.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"1200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Martin Gedny\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.yardi.com\/en-gb\/news\/yardi-systems-comments-on-proposed-plan-to-support-wework-in-its-emergence-from-bankruptcy\/\",\"url\":\"https:\/\/www.yardi.com\/en-gb\/news\/yardi-systems-comments-on-proposed-plan-to-support-wework-in-its-emergence-from-bankruptcy\/\",\"name\":\"Yardi Systems Comments on Proposed Plan to Support WeWork in Its Emergence From Bankruptcy - 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