Share via Shortlink Photo illustration of Knotel CEO Amol Sarva (Sarva by Sasha Maslov; iStock)As Knotel battles lawsuits from landlords, evictions and accusations of unpaid rent, its CEO says the flex-office provider has secured new funding.Knotel CEO Amol Sarva reportedly told staff on Monday that the company has gotten a fresh influx of cash, according to Business Insider, citing a source with knowledge of the all-hands meeting.Sarva did not disclose the amount of money raised or details about who was involved, although a source told the publication that it is a restructuring type of deal that includes equity and debt.Earlier this summer, Sarva said he had raised $10 million and wanted to raise $100 million by the end of August. Forbes reported that the new funding could cut the company’s valuation in half.In August 2019 the company said it raised $400 million through a Series C raise, which gave Knotel a valuation of at least $1.3 billion. Investors included Mori Trust, Itochu Corp, and Mercuria Investment Co, along with Newmark Knight Frank, Norwest Venture Partners, and the Sapir Organization, which is led by Alex Sapir.This year, Knotel has suffered along with other co-working companies as demand for office space has lagged during the pandemic. The company has been hit with a dozens of lawsuits over the past few months from landlords who claim they have not been paid, as well as eviction notices at two of its spaces.Knotel has also been scaling back its once-ambitious expansion plans and in November said it was looking to trim 60 percent of its 4.8 million-square-foot global portfolio. It has also cut staff several times over the course of the pandemic.[Business Insider] — Keith Larsen Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink TagsCommercial Real EstateKnoteloffice marketReal Estate Lawsuits
has always been concerned about the quality of life of people in many cities, many people do not live in the house, are living in tents. In Huaibei, shed reform work to get people’s attention. For dwelling in the living density, disrepair, low humidity and very dilapidated shantytowns residents moved into the new building is long. Inadequate infrastructure, housing and other issues of the past, to bring inconvenience to the lives of the masses, and shantytowns is undoubtedly a good opportunity to improve the living environment.
2016, Anhui Province, Huaibei municipal Party committee, municipal government will work as a shed for the benefit of the people of the "popular project" to realistically grasp, penggai included in the city’s "nine key projects", "the oath in two years ago in 13th Five-Year to complete the built-up area shantytowns plan. To win the fight to win the battle to change the tent, adhere to the precise force planning, precise force propaganda, precise force financing, precise force to move, precise force placement, precise force huimin.
completed the "impossible task"
said Huaibei shed change, Huaibei city penggai headquarters office director Yang Yongchao presented a set of data: by the end of 2016, the actual shantytowns started 48501 units, complete province issued a task of 13142 sets of 369.1%; and low-income housing in shantytowns basically completed 27566 units, completed, up to the task of 8500 sets of 324.3%, started construction the basic rate, completion rate of the province ranked first.
and a year’s time, Huaibei commodity housing stocks from the end of 2015 to 2016 square meters by the end of 800 thousand square meters, to shorten the cycle to only a mere eight months. Huaibei municipal Party committee secretary Huang Xiaowu believes that shed changed to promote the real estate inventory, promote the steady economic growth, the creation of the Huaibei brand.
can be said that the Huaibei shed changed to complete the impossible task, these highlights how to achieve it? Li Jianhua, director of the Huaibei Municipal Housing Authority seems, Huaibei shed changed far ahead of the experience summed up the two key words, that is, since the Reform Commission and purchase vouchers".
dwelling in the dark and wet places of life, will bring a serious risk to the health of the people, let people see the importance of reform work shed. Huaibei penggai always adhere to strict planning, leading in the shantytowns and optimize the layout of the city, improve the city function, promote coordinated economic development combined with the scientific planning of land use, integrate with the urban function improvement, reasonable arrangement of construction land, promote the intensive development of the city.