WeWork Fund Loses Last London Office After Deutsche Bank Breach

A fund tied to beleaguered flexible office giant WeWork Inc. has lost control of its last remaining London property after breaching its banking covenants.

Deutsche Bank AG placed 51 Eastcheap into receivership after a deal to sell the property collapsed, people with knowledge of the process said.

The building near the Monument in the City of London was owned by WeWork Capital Advisors, which had repeatedly attempted to sell the property over the past two years, the people said, asking not to be identified as the process was private. The fund is independent of WeWork, though the office company invested ...