rookfield Property Partners has committed $200 million to invest in Airbnbâs spinoff, Niido. The firm will use the funds to acquire multifamily properties and âoptimizeâ them for home-sharing and âflexible livingâ in the coming years. Brookfield will take a 25 percent cut on revenues for every apartment subleased through Airbnb at the Niido properties. Brookfield will start buying properties in Miami, Fort Lauderdale and Tampa. The first investment will be a $20 million, 324-unit project in the Orlando submarket of Kissimmee that will be named Niido Powered by Airbnb. New York-based firm Silverpeak Real Estate Partners has put $20 million of equity into the venture.
Niido residents will sign annual leases and will be permitted to homeshare individual rooms or their entire units. Residents who choose to share their homes will be part of Airbnbâs Friendly Buildings Program, in which hosts and landlords share revenues generated from home sharing. Niido would allow renters to make income by leasing out their unit on Airbnb for up to 180 days per year. Any money earned would be shared between the renter and Niido âThe Niido model will provide additional income to landlords and tenants while enhancing the experience for Airbnb guests,â Newgard CEO Harvey Hernandez said. âNiido eliminates barriers by encouraging home sharing.â
