Starcity Acquires Ollie, Accelerating Its Growth as a Vertically Integrated Global Coliving Company
SAN FRANCISCO--(Business Wire / Korea Newswire) December 04, 2020 -- Starcity is acquiring Ollie’s key assets, including its technology, intellectual property, and business agreements in major cities, which when combined with Starcity, will create one of the largest coliving developers and operators globally.
Ollie is widely recognized as a pioneer in the coliving asset class and has partnered with institutional owners to deliver much needed affordability and community to top tier cities such as New York, Los Angeles, the San Francisco Bay Area, and Boston. Additionally, Ollie has built a proprietary technology suite of services to foster community engagement, deliver hospitality services and provide roommate matching within its communities.
Following the transaction, Ollie’s key personnel will join Starcity to create a leading organization with the mission to make great cities accessible to everyone. “We are thrilled to bring on board such a high caliber team with institutional grade communities. Most importantly, we are humbled to expand our inviting, hands-on experience for more residents globally,” said Jon Dishotsky, CEO and co-founder of Starcity. Starcity will spend the coming months integrating the Ollie team, residents, and partners onto its platform. With the acquisition, Starcity will now operate over 1,500 units globally, with over 3,000 units in its development and operations pipeline throughout North America and Western Europe and over 10,000 units in negotiations.
Starcity has been expanding its footprint in the coliving industry with a focus on major cities in North America and Europe. With this acquisition, Starcity further establishes itself as a best-in-class owner and operator in institutional coliving with a full suite of services.
“Bringing the Ollie platform into Starcity gives our residents, clients, and team a company that is aligned on our housing philosophy, facilitating further growth of attainable housing nationally and globally,” said Gregg Christiansen, Ollie’s President. “I am excited to see what we can accomplish together.”
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