Coliving is comprised of high-density apartments (usually 3 or more bedrooms) where individuals get their own private room – and share a kitchen, living room, bathrooms, and amenity spaces with their suitemates.
A replacement for a studio apartment – one that offers renters access to quality rental product with:
Studios, 1, 2 bedrooms
$40 / Resi GSF
700 / NSF/BED
3 - 6 bedrooms
$60 / Resi GSF
300 / NSF/BED
As coliving becomes more accepted and institutionalized, we expect cap rates to compress over the next 5-7 years. Other asset classes adjacent to multifamily - student housing, senior housing, self storage - compressed 300+ bps over 10 years.
Cap rates compression across different asset classes
Well-educated professionals, new to your city.
Geographically, coliving communities are largely concentrated in the large and expensive ‘gateway’ markets such as New York City, Los Angeles, San Francisco, Washington, D.C. and Chicago. Expansion plans include other coastal markets as well as secondary cities like Atlanta, Austin and Denver, to name a few. Within metro areas, co-living properties are predominantly located in the trendy central neighborhoods, which appeal to younger professionals.
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