First major co-living fund seeking $825m for COLIV venture
Co-living developer The Collective and real estate investment manager DTZ Investors are seeking £650m [$825m] in pledges and plans to invest in six to ten fund to buy and build communal housing projects in London.
The COLIV venture, believed to be the world’s first, aims to make ‘lonely’ renters something of the past and drive them away from sky-high house prices towards more niche, alternative co-living accommodation.
The world’s first major co-living fund, as it was labelled by the two companies, has 70 million pounds of seed capital, and its managers aim to build a portfolio valued at around one billion pounds over its ten-year life, with returns of between eight to ten per cent …