Home-Sharing Denver Startup Making Major Plays Expands Into Seattle, LA
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The Denver startup that has been working with residents of its building to list their units on Airbnb is expanding into larger markets, less than a year after closing the city's largest real estate transaction in 2019.
Founded in Denver in 2018, Daydream Apartments spent $304M last spring for 1770 Chestnut Place. The company, backed by San Francisco-based Iconiq Capital, touts a home-sharing business model, where it buys larger properties and helps subsidize renters looking to rent their units out on Airbnb.
Daydream has already spent more than $600M to expand into Los Angeles and Seattle, where it paid $400M for two multifamily buildings in the Fashion District and $210M for two multistory complexes, respectively, according to documents obtained by BusinessDen.
Vancouver, Washington-based Holland Partner Group has thus far developed all Daydream's buildings. Daydream bought the Whole Foods-anchored Union Denver development in April.