La Guilde acquires CREA Management to expand its urban portfolio
Acquisition adds over 5,000 units to The Guild’s portfolio and pipeline, driven by the company’s desire to create an innovative, turnkey living platform that can accommodate all lengths and types of stay , as it seeks to redefine flexible living and blur the lines between living and traveling.
Brian Carrico, co-founder and CEO of The Guild, said: “The pandemic has really accelerated the need for a platform that offers flexibility, authentic community and the technology service that the modern tenant population really wants. – 70% of whom identify as millennials or Gen Z. The way people live, work and travel are increasingly intertwined, creating a timely opportunity to transform city life into a more flexible and seamless experience for travelers and travelers. tenants, while generating significantly higher revenues for building owners. ”
Founded in 2016, The Guild currently manages more than 2,000 premium units in twelve communities and seven markets, including Denver, Colorado; Bay Harbor and Miami, Florida; Cincinnati, Ohio; and Austin, Dallas and San Antonio, TX. The company also has more than 10,000 units in development in its pipeline for the next 18 months, including target markets such as Atlanta, Georgiaa; Boston, Massachusetts; Los Angeles, California; Nashville, Tennessee; New Orleans, Louisiana; philadelphia cream, Pennsylvania; and Washington, District of Colombia.
The Guild’s serviced apartments merge the typical hotel and city living experience, creating a sense of home for travelers or renters, no matter where they are. Its units are located in prime locations and offer personalized service such as grocery storage and on-demand housekeeping, as well as access to additional amenities including rooftop terraces, outdoor pools, and more. , gyms and private membership clubs.
The company says it has attracted greater demand from Millennials and Gen Z who value remote working, seek healthy work-life integration, and rely heavily on the technology for travel, shopping, communication and more as working, traveling and living become increasingly linear.
With a new hybrid management offering, The Guild aims to disrupt the flexible living, short-term rental and long-term rental sectors by allowing landlords to flexibly adapt their short-term rental mix and long-term on an entire or partial building.
As a result of the acquisition, CREA Management’s apartment communities will be able to take advantage of The Guild’s technology hospitality services and some units could be converted into flexible term furnished apartments.
Additionally, Katya Watson and John Burnham will join The Guild’s management team, as President of Multi-Family Operations and as a member of the Board of Directors respectively.
Burnham said: “CREA Management’s guiding mission has always been to provide our clients with exemplary communities that meet their needs when they live, work and play. The Guild’s clear understanding of the opportunities presented by the growing interest in flexible living coupled with its expertise in hospitality and its desire to fill the current gaps in the rental market made the decision to partner with the Guild very easy.
To date, The Guild has raised over $36.5 million in funding, according to Crunchbase, including a $25 million Series B funding round in January 2020 and an undisclosed Series A investment from Sand Hill. Angels last January, while also getting $17.1 million in stock. and titles in April.