Brookfield teams up with Airbnb in $200M Florida deal

Published on : Wednesday, December 20, 2017

AirbnbBrookfield Property Planners have decided to invest up to $200 million in a few Florida properties whose units would be rented out through Airbnb for part of the year as announced by the company on Monday.


The Canadian investment giant had created a joint venture with Niido who is the developer behind these projects.


It is ready to invest $20 million in the first project, in a 324-unit property in Kissimmee, as reported by a leading media house. The partners have been planning to purchase existing buildings and under-construction projects in Miami, Fort Lauderdale and Tampa and transform them into a giant home-sharing experiment.


Here the tenants would be permitted to sublet their pads through Airbnb for less than half the year.


And in return the landlords would receive a share of the income.


Airbnb and the Miami-based firm behind Niido had first announced that Kissimmee project in October the New York-based Silverpeak Real Estate Partners is also investing $20 million in this property.


Niido is optimistic that it would be capable of making extra money by making the facility of Airbnb more attractive to potential tenants.


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