WeWork names Sandeep Mathrani as new CEO. Forever 21 unveils $81m deal to be sold to mall owners.
New CEO in the Block
Beginning February 18th, WeWork will have a new chief executive. The SoftBank-backed office-sharing firm has announced that real estate industry veteran Sandeep Mathrani will join the company as CEO. He is the former chief executive of Brookfield Properties' retail group, and prior to that he was an executive at real estate firms including Vornado Realty Trust. NDTV Profit
Here's the Deal
Retail chain Forever 21 has reportedly reached an agreement to be sold to a group that includes mall owners Simon Property Group and Brookfield Property Partners and brand management company Authentic Brands Group. The price would be $81m.
California-based Forever 21 filed for bankruptcy protection in September and has closed 100 stores since then. Simon and Brookfield are two of its largest unsecured creditors. WSJ