Ivanhoé Cambridge, Belfius Insurance, and the real estate arm of the Belgian Sovereign Fund have made equity investments in coliving firm Cohabs.
Cohabs said the equity investment from the three new institutional investors will help the company expand its portfolio. The amount the institutions invested was undisclosed.
The company’s founders and existing shareholders AG Real Estate and Alphastone will continue to support the firm’s growth plan.
Founded in 2016, the Brussels-based company currently owns and operates a portfolio of 1.550 bedrooms across cities including Brussels, Paris, New York, Madrid, and Luxembourg.
Cohabs said it plans to reach 5,000 bedrooms across 11 cities by the end of 2026, adding that it expects to progress its “expansion through increased institutional support”.
Youri Dauber, founder and CEO of Cohabs, said: “From the first meeting with Ivanhoé Cambridge, it was clear we were a good fit. They immediately understood our vision of coliving and shared our fundamental values. They have the experience, resources, and drive to help us reach the next level.
“Combine this dynamic with the belief and support from our historical Belgian investors and our ambition has all the fuel necessary for us to accomplish our goals. Our mission will remain the same: be the most qualitative, sustainable, and member-centric coliving company in the world.”
Arnaud Malbos, the head of investments Europe for Ivanhoé Cambridge, said: “Cohabs offers everything we are looking for in terms of an innovative concept in an alternative asset class, which matches a strong and growing trend in the living sector, and we are confident the company will further grow internationally.
“This operation is another demonstration of Ivanhoé Cambridge’s ability to successfully close structured private equity deals, and to diversify its portfolio with alternative asset classes.”
Amand-Benoît D’Hondt, chief alternative investments and sustainability officer at AG Real Estate, said: “We are delighted with this important step in the life of Cohabs, which we have supported with conviction since its inception. Flexibility, agility, service and quality in addition to a strong local Belgian base: these are all assets that have undoubtedly attracted Ivanhoé Cambridge.
“As a top-tier financial and strategic partner, AG Real Estate is convinced that such a pool of investors can only ensure the growth and sustainability of Cohabs! Congratulations to the teams for this new milestone in their history.”
To read the latest edition of the latest IPE Real Assets magazine click here.
