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WeWork cofounder and former CEO Adam Neumann has reportedly purchased majority stakes in over 4,000 apartments across the U.S.
Together, the apartments are worth over $1 billion.
Sources tell the Wall Street Journal that Neumann is seeking to create a company that could impact the rental housing market.
The apartments are located in cities such as Atlanta, Fort Lauderdale, Miami, and Nashville.
Most of the investments were made over the last year, with Neumann supposedly looking to attract young professionals who were attracted to WeWork’s former model.
Source:
Business Insider
