AvantStay Creates a $500 Million Fund for Investing in Short-Term Rentals
Photo Caption: Avantstay lists many upscale vacation homes for rental, including this property in Isle of Palms by Charleston, South Carolina. Source: AvantStay.
Skift Take
Nothing underscores how mainstream vacation rentals have become as seeing institutional investors get in on the action.
AvantStay, a short-term rental property operator, has closed a $500 million funding round to create a company to hold its property assets. Saluda Grade, a real estate advisory and asset management firm, has backed this short-term rental fund, helping to institutionalize vacation rentals as an asset class — the so-called securitization of this growing sector of the travel industry.
In other words, the fund will buy a half-billion dollars worth of residential pr
