NEW YORK, NY – (Jan 8, 2018) – Ollie, one of the nation’s leading micro-housing and coliving specialists, today announced the completion of an initial $15 million of financing. The company’s Series A investment was led by Aviva Investors Real Estate Capital Global Co-Investment Fund (Aviva), in partnership with the Employees Retirement System of Texas (Texas ERS). Previous funding round participants included Currency M, the venture division of real estate firm The Moinian Group, and tech entrepreneur and real estate investor Justin Mateen. 

“We’re excited to invest in the growing multifamily housing segment of coliving with Ollie as a sector leader,” said Russ Bates, Head of Americas Global Indirect Real Estate, Aviva Investors, which invests with emerging real estate platforms focused on opportunistic real estate properties in the U.S. “We completed extensive research and diligence of coliving companies, ultimately finding Ollie. The Ollie team is well-suited to be a premier operator for institutional quality assets through their pairing of design, technology, and community atmospheres.”

Texas ERS Director of Real Estate, Bob Sessa, added: “Ollie’s innovative approach to the multifamily housing market is filling a need demanded by consumers and setting them apart from their competitors.  They create an experience that follows the trend of the sharing economy.”

Founded by brothers Christopher and Andrew Bledsoe, Ollie employs disruptive small space design techniques to reduce entry level price-points for Class A apartment buildings in urban markets. Its all-inclusive coliving model revolutionizes the living experience with complimentary hotel-style services, state-of-the-art convertible furniture, inviting and luxurious community spaces, and unique resident engagement activities.

“Ollie is thrilled to have the backing of our investors; they offer a highly relevant combination of experience scaling both real estate and tech businesses, respectively, which we view as pivotal to our continued success,” said Ollie’s CEO, Christopher Bledsoe.

Initially focused on the New York City area, Ollie is building a national platform with upcoming projects throughout the country. The company is opening what will be the largest ground-up coliving development in the U.S. in Long Island City in the Spring of 2018. Based on bed count, this expansion puts Ollie on track to be the largest U.S. operator in the coliving category. The company also recently announced its plans to expand to Boston and Los Angeles, and is currently negotiating projects of similar scale throughout the U.S.

“The conventional housing market has lacked any real innovation for decades, despite seismic social and demographic shifts. Ollie is providing the institutional real estate community with the right tools to respond: a mix of disruptive design, technologies and operating ecosystem,” Bledsoe added.

Ollie is one of the leading micro-housing and coliving platforms. In partnership with institutional real estate investors and developers, Ollie revolutionizes the living experience for urban renters through an “all-inclusive coliving” that combines thoughtfully appointed furnished micro-studios and shared suites with extraordinary lifestyle-relevant services, abundant amenities, and unique community engagement activities. For more information, visit www.ollie.co

About Aviva Investors

Aviva Investors America (AIA) is the US member of a group of internationally affiliated investment advisers collectively referred to as Aviva Investors. Aviva Investors is the global asset management business of Aviva plc, a publicly-traded multinational insurance company headquartered in London. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 15 countries in Asia Pacific, Continental Europe, North America, and the United Kingdom with assets under management of over $472 billion US globally as of September 31, 2017. See www.avivainvestors.com.

Aviva Investors Real Estate

*With on over 100 investment professionals globally and on the ground in London, Paris, Amsterdam, Frankfurt, New York and Singapore, Aviva Investors Real Estate has over $46 billion of real estate assets under management as of September 30, 2017. The group has individuals focused on Governance, Strategy and Research and directly holds over 600 properties in developed and emerging markets. *These numbers represent not just Aviva Investors in North America, but all Aviva Investors Real Estate companies globally, in aggregate.

 

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