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Brookfield to partner with Airbnb in $200M Florida deal


New York-based Silverpeak Real Estate Partners is also investing $20 million in the ... “You’ve got a ton of inventory coming to the marketplace, especially in Florida.” [Bloomberg] — Konrad Putzier


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December 19, 2017 07:00AM Brookfield’s Ric Clark and Airbnb founders Joe Gebbia, Nathan Blecharczyk, and Brian Chesky Brookfield Property Partners plans to invest up to $200 million in a series of Florida multifamily properties whose units will be rented out through Airbnb for part of the year, the company announced Monday. The Canadian investment giant formed a joint venture with Niido, the developer behind the projectsIt will invest $20 million in the first project, a 324-unit property in Kissimmee, Bloomberg reported. The partners plan to buy existing buildings and under-construction projects in Miami, Fort Lauderdale and Tampa and turn them into a giant home-sharing experiment: tenants will be allowed to sublet their pads via Airbnb for less than half the yearIn return, the landlords get a share of the income (Brookfield’s cut will be 25 percent). Newgard Development Group, the Miami-based firm behind Niido, and Airbnb first announced the Kissimmee project in OctoberNew York-based Silverpeak Real Estate Partners is also investing $20 million in the property. Niido hopes that the ability to legally make extra money through Airbnb will make the buildings more appealing to potential tenants“It certainly gives you a competitive advantage because it’s different,” Niido co-founder Cindy Diffenderfer told Bloomberg“You’ve got a ton of inventory coming to the marketplace, especially in Florida.” [Bloomberg] — Konrad Putzier Tags: airbnb, Brookfield Property Partners, Commercial Real Estate Short URL #mc_embed_signup .mc-field-group input { } #mc_embed_signup .mc-field-group{ min-height:0px; } #mc_embed_signup{background:#fff; clear:left; font:14px Helvetica,Arial,sans-serif; } /* Add your own MailChimp form style overrides in your site stylesheet or in this style block. We recommend moving this block and the preceding CSS link to the HEAD of your HTML file*/ Subscribe to our e-Lerts New York Real Estate News Daily Updates Weekly Roundup South Florida Real Estate News Daily Updates Weekly Roundup Los Angeles Real Estate News Daily Updates Weekly Roundup China Watch Coming soon! Weekly Roundup

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