LONDON, UK / ACCESSWIRE / September 22, 2020 / Global build-to-rent and multifamily asset manager Node has entered a €300 million joint venture with Intriva Capital to expand its platform and real estate portfolio across Western Europe.
The initial Intriva equity capital will provide Node with the firepower to increase its Western European portfolio to more than €300 million. Node will target development sites and existing buildings to acquire and reposition in key European gateway cities. Node also seeks to manage and co-invest in projects with third party owners and developers.
Node is pioneering the concept of curated living, a next generation, "build to rent" apartment community that combines traditional multifamily apartments, furnished micro unit studios and two-to-four bedroom co-living apartments into one residential building. Amenities include residents' lounges and co-working spaces to cater for the increasing trend of working from home as well as curated residents' events. Node has a global technology platform and app that helps to foster a better sense of community and drive operational efficiencies on maintenance, access control and payments. Node residents are typically young professionals, entrepreneurs and freelancers who seek community connection and an all-inclusive rent that includes locally inspired interior designed furniture, wi-fi, utilities, a WFH co-working space and even assistance with finding a roommate.
"Raising capital from institutional investors in such an uncertain time is a great testament to the Node team and business model we have created over the past four years. We are excited about our significant expansion plans and creating a new standard for urban apartments in increasingly unaffordable cities," said Anil Khera, Founder & CEO of Node and a former Managing Director at Blackstone, the world's largest real estate asset manager.
"We are excited to assist Node in its next phase of growth in Europe. The team has the right mix of entrepreneurial spirit and institutional expertise to become a leader in the next generation of apartment asset managers," said David White, Partner at Intriva.
Node residences and their curated living lifestyle are already a success with hundreds of units in locations throughout New York, Los Angeles, Seattle, London, Dublin and in Canada.
About Node:
Node is a global asset management company that invests, develops and manages urban rental apartment communities in creative capital cities around the world. Our mission is to create the next generation of global apartment living with affordable, design-led and community focused residences that meet the growing needs of urban renters. Node residences are in cities throughout the North America and Europe with further expansion planned globally.
For more information, please visit: www.node-living.com Instagram: node.living Facebook: @nodelivingglobal LinkedIn: node.
About Intriva Capital:
Intriva invests in special situations across Western Europe which arise from dislocated markets, structural change and unsustainable capital structures. Intriva places great emphasis on downside protection through attractive entry valuations, bespoke deal structuring and careful alignment of interests with key stakeholders. Intriva seeks top-down investment themes in dislocated sectors as well as bottom-up situational opportunities where it identifies the potential to take advantage of idiosyncratic or secular issues to structure a diversified portfolio of investments with an attractive risk-adjusted return profile.
https://www.intriva.com/
Media Contacts:
Node
Nia Thomas
Nia@niapr.com
+44 7723 019 767
SOURCE: node
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