Home-Sharing Denver Startup Making Major Plays Expands Into Seattle, LA
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.