Join the movement at Inman Connect Las Vegas, July 30 – August 1! Seize the moment to take charge of the next era in real estate. Through immersive experiences, innovative formats, and an unparalleled lineup of speakers, this gathering becomes more than a conference — it becomes a collaborative force shaping the future of our industry. Secure your tickets now! Learn more.
The flexible living platform Landing has acquired fellow flexible rental operator Barsala in a $30 million dollar deal, according to an announcement Thursday.
The new deal will allow Landing to add 1,000 new units across its Autopilot program, which provides furnished, flexible living spaces for multifamily buildings.
ARE YOU A PROPTECH PLAYER? TAKE THE MARCH INMAN INTEL INDEX SURVEY
Landing, a membership-based platform, provides its members with access to furnished apartments and amenities for the price of their subscription. The company is geared towards mobile professionals and digital nomads looking for extreme flexibility in their places to stay. Its Autopilot program is geared towards landlords, offering them a range of management services.
Since its founding in 2019, the Birmingham, Alabama-based Landing has expanded to more than 375 markets across the United States, with plans for further expansion.
Barsala, which was founded in 2016, partners with multifamily developers to turn vacant units into fully furnished rentals with flexible leasing options. Since its founding, the company has operated 4,000 apartments across 25 markets in the United States.
“By activating otherwise vacant units using a combination of technology and marketing, Barsala has built a profitable model and strong reputation, cultivating deep partnerships with class A multifamily property owners,” said Bill Smith, Founder and CEO of Landing. “This acquisition allows us to bring the benefits of our Autopilot platform and heightened demand from our qualified members to a growing number of property owners across the country, while opening doors to more fully-furnished apartment homes in new markets for our members.”
The acquisition comes after a busy 2023 for Landing. It announced a partnership with the verification solution CLEAR to speed up tenant screenings in December, and its new Flex product in July which allows users to book open-ended stays and requires no multi-month commitment.
“Bill [Smith] is a true visionary and an extraordinary entrepreneur. I am thrilled to join forces with him and the rest of the Landing team, and share their vision for a more flexible future,” said Michael Monu, Founder and CEO of Barsala. “Landing is at the forefront of bringing flexible living to the masses, and this acquisition amplifies the opportunity to offset vacancies and maximize revenue for both new and existing property partners.”
Monu will join Landing as President of the Barsala division while Barsala co-founder Michael Copley will join as VP of tech operations.
