Ralph Winter’s WS Group has acquired a stake in Quarters, the co-living start-up owned by Medici Living, simultaneously joining the company’s advisory board.
Founded in 2012, proptech company Quarters now operates nearly 2,000 rooms in Germany, the US and the Netherlands, with a series of further launches planned for the coming months.
The brainchild of Gunther Schmidt, the CEO of Quarters, the business seeks to supply turnkey rental living solutions for periods from three months upwards in major cities, characterised by what Schmidt calls ‘forced interaction points’.
‘The housing model is designed to help the building’s residents form connections, from the laundry rooms to shared kitchen facilities, as well as in the gym in our new Chicago property,’ Schmidt said.
‘There’s no age cap but we see that most of our residents are in the 20s to mid 30s range, and characterised by considerable ambition and the desire to connect.’
He added: ‘Ralph’s experience in all the various types of micro- and residential products is a perfect fit.’
Quarters currently operates buildings in Germany’s Big Seven cities, as well as Amsterdam, New York and Chicago. The next properties will be launched in Madrid and Barcelona, Dublin and London, Schmidt said. ‘The average occupancy in our buildings is now at 98%. As demand continues to grow, we think that co-living could become an asset class in itself,’ he concluded.
