Airbnb Is Getting a $200 Million Boost to Build Its Hotel-Like Apartment Business
Photo Credit: Airbnb's experiment in building a network of hotels, or Airbnb-friendly apartments, got a boost with a $200 million investment from one of the world's largest commercial real estate developers. Airbnb / Airbnb
Skift Take
Airbnb is getting into the very business it has spent the past decade disrupting. Will Niido Powered by Airbnb usher in an era of co-living residences that encourage homesharing?
If you can't beat 'em, join 'em, as the old saying goes. That seems to be ringing true for some multifamily housing developers, who are just now beginning to explore the opportunities of building "Airbnb-friendly" apartments.
Today, you can count Brookfield Property Partners and Silverpeak Real Estate Partners as two of those landlords who see dollar signs in working with homesharing giant Airbnb.
Brookfield Property Partners announced it has entered into a $200 million equity investment program with Niido, a new hotel-like concept that Airbnb announced in October, and Silverpeak Real Estate has committed $20 million to the venture. Niido is being run by Miami-based Newgard Development Group and the $220 million being invested is going to Niido, not to Airbnb.
Their investments signal a shift in how landlords and developers are beginning to view Airbnb at a time when their peers are still fighting the company. Apartment Investment & Management Co. (AIMCO) is currently suin
