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CushWake Tapped for $1B Debt and Equity Raise in Co-Living Sector
Cushman & Wakefield has been retained to secure an initial $1 billion in programmatic debt and equity for New York-based Six Peak Capital to expand its co-living footprint across U.S. gateway markets.
Initial funding is being seeded with properties currently owned or under contract, representing over 1,000 beds. Additionally, Six Peak has identified a pipeline of properties representing over 6,000 beds, requiring over $1.5 billion of debt and equity.
“Proof of concept has shown that co-living works, and with the demand for beds far exceeding supply in the U.S., there is a great opportunity right now for institutional investors in the space,” said Cushman & Wakefield’s Susan Tjarksen.
Six Peak invests in co-living projects with Common, a community-focused residential brand that designs and operates traditional apartments and co-living suites. Common currently manages 30 buildings across New York, Chicago, San Francisco, Oakland, Seattle, Los Angeles and Washington, DC at 98% occupancy.
Pictured: A Common co-living facility.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Development
