The Guild Acquires Property Management Firm CREA Management.
MANews-(C)2009-2022
US-based hospitality startup The Guild has acquired US-based multifamily developer and investment firm Cypress Real Estate Advisors' CREA Management LLC property management division, the company said.
The acquisition adds over 5,000 units to The Guild's portfolio.
The Guild which currently manages over 2,000 units across twelve communities and seven markets, including Denver (Colo.), Bay Harbor, Miami (Fla.), Cincinnati (Ohio), Austin (Texas), Dallas (Texas), and San Antonio (Texas) merges the typical hotel and urban living experience.
The Guild now has over 10,000 units under development in its pipeline.
The Guild's furnished apartments feature personalized service such as on-demand grocery stocking and housekeeping, paired with access to building amenities like rooftop terraces, outdoor pools, gyms, and private members' clubs, all made accessible to travelers and renters through a tech-enabled platform.
This new hybrid management offering is set to disrupt the rapidly growing flexible living and short-term rental sector, as well as the larger USD 1.3tn long-term rentals market.
The acquisition positions The Guild as the only platform that enables owners to flexibly scale their short-term and long-term rentals mix across an entire or a partial building based on their unique investment goals.
All of this further equips The Guild to serve travelers and renters across their full spectrum of needs from an upscale hotel-like overnight stay, to a fully furnished months-long vacation rental, and even a more traditional annual lease.
The Guild will take on full property management operations, leveraging the success of CREA and CREA Management's exceptional multifamily expertise, which...
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