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Common Assumes Control of Starcity Management Portfolio

Midtown Manhattan-based Common has agreed to take over the management of the bulk of San Francisco-based Starcity’s portfolio of open properties and to work with the various owners and developers in connection with its development pipeline. 

Deal terms weren’t disclosed. In total, this represents 7,481 new units in cities around the globe, mainly in the co-living sector.

“Since founding Common in 2015, the co-living landscape certainly looks different but the need to create a better kind of housing for the modern renter has not,” said Common CEO Brad Hargreaves. “While the sector consolidates, we’re committed to acquiring the management agreements of these formerly Starcity properties, keeping the resident experience positive and growing our brand by becoming the most innovative operator in residential.”

Starcity launched out of Y Combinator in the summer of 2016. The brand operated in San Francisco, Los Angeles, New York City, Barcelona, Silicon Valley and Oakland. 

Pictured: A Starcity unit in San Francisco.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types as well as delving into broader subject matter. He produces 15-20 daily news stories per day and also works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.

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