Real Estate’s SPAC Wave Continues

The flexible office giant WeWork is the latest real estate company to use a special purpose acquisition company to go public. The wave of real estate companies turning to SPACs is growing, such as with Cushman & Wakefield, RXR Realty, Simon Property Group, Tishman Speyer, Opendoor, and Matterport, among others.

UK’s Cazoo will list on the NYSE by way of a SPAC, valuing it at $7B and raising $1.6B

Cazoo, the UK used-car sales portal that has been on a major fundraising tear in the last year, will be next company to pursue more growth by way of a SPAC: the company today announced that it will list on the NYSE by way of a business combination with AJAX I, a special purpose acquisition vehicle founded by hedge fund supremo Dan Och in partnership with Glenn Fuhrman and others.