Faraday Future has sold its Los Angeles headquarters in a move to help fill the EV startup’s exhausted coffers, according to property documents obtained by The Verge. A subsidiary of New York-based real estate firm Atlas Capital purchased the headquarters on March 8th and immediately began leasing the building back to Faraday Future for an undisclosed amount.
The documents did not reveal how much Faraday Future received in the sale of its headquarters, which consists of two buildings just off of South Figueroa Street in the city of Gardena, California, about 15 miles from downtown Los Angeles. One former employee familiar with the sale pegged the number at around $10 million. It could be higher; Faraday Future took a $17 million loan…
from The Verge – All Posts https://ift.tt/2CtqBQf