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The Guild Acquires Property Management Firm CREA Management
Friday 14 January 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 spans over two decades, and merge it with The Guild's operational excellence, developed from hosting hundreds of thousands of hotel stays, best-in-class tech-powered service, and community programming. In addition to offering its tech-powered hospitality services to existing long-term residents of CREA Management's apartment communities, The Guild plans to transition a select number of units at those communities into upscale, furnished flexible-term apartments, creating more flexible options for how to live in those communities.

The acquisition of CREA Management will not only help The Guild drive portfolio growth, but it will also add more senior talent to its executive team, including Katya Watson, who will serve as president of Multifamily Operations for The Guild.

Additionally, John Burnham, Managing director of CREA, the parent company of CREA Management, will sit on the board of directors for The Guild.

The Guild has plans to expand to 10,000 units in the top 25 markets over the next 18 months; target markets include Atlanta (Ga.), Boston (Mass.), Los Angeles (Calif.), Nashville (Tenn.), New Orleans (La.), Philadelphia (Pa.), and Washington (District of Columbia).

Burrows Consulting Group is acting as an advisor to The Guild to assist with the integration of the companies.
Date Published: 14/01/2022