Madrid, 9th February - Habyt, Berlin based coliving company, has acquired Erasmo’s Room, the leader of Madrid’s coliving sector, with over 270 units right in the city center. This is the second M&A deal of 2020 for Habyt, after the acquisition of Go-living, back in July. The deal represents a major cornerstone for the Company’s strategy to expand and consolidate its presence in Spain and in Europe.
“Welcoming a strong player like Erasmo’s Room into the Habyt family is a great achievement for us, especially during such challenging times. This acquisition sets Habyt as the leading coliving provider in Spain, with over 500 rooms locally and thousands in Europe”, commented Habyt’s CEO, Luca Bovone.
Habyt, founded by Mr. Bovone in 2017, offers fully equipped apartments and rooms with a strong focus on design and community for its members. The Company has grown by over 300% since the beginning of 2020 and is planning to keep this trajectory throughout 2021.
Despite being impacted by the COVID-19 pandemic, the coliving Sector has proven to be a very resilient asset class. As Cushman & Wakefield have stated in their report “Coliving during COVID-19”, the coliving sector is still outperforming more traditional rental markets both in terms of rent levels and occupancy. “The real estate world has certainly been affected by the Covid crisis, but Habyt and more in general the coliving sector have certainly demonstrated a great ability to adapt to rapidly changing market conditions”, adds Mr. Bovone.
Such achievement has been possible thanks to Habyt’s newly acquired investor, Inveready. At the end of 2020, the Spanish Asset Manager has invested €2M in the Company specifically to finance the mentioned acquisition and to sustain Habyt’s further expansion across Europe. “This investment is part of our larger European investment strategy and we are very excited to work closely with Luca and the Habyt Team to help them build the leading European coliving provider”, commented Ignacio Puig, Partner at Inveready.