The new deal will see flexible living platform Landing add 1,000 new units to its Autopilot program, which provides fully furnished, flexible living spaces in multifamily buildings.
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Flexible living platform Landing has acquired flexible rental operator Barsala for $30 million, according to an announcement on Thursday.
The new agreement will see Landing add 1,000 new units to its Autopilot project, which provides fully furnished, flexible living space in multifamily buildings.
The Landing is a membership-based platform that gives members access to furnished apartments and amenities at subscription prices. The company targets mobile professionals and digital nomads looking for an extremely flexible place to stay. Its Autopilot program is aimed at landlords, providing them with a range of management services.
Since its founding in 2019, Birmingham, Alabama-based Landing has expanded to more than 375 markets across the United States, with plans for further expansion.
Founded in 2016, Barsala partners with multifamily developers to convert vacant units into fully furnished rental units with flexible leasing options. Since its founding, the company has operated 4,000 apartments in 25 markets across the United States.
“By combining technology and marketing to activate vacant units, Barsala has built a profitable model and a strong reputation, creating deep partnerships with Class A multifamily property owners,” said Landing founder and CEO Bill Smith. “This acquisition allows us to bring the benefits of the Autopilot platform and the growing demand of qualified members to an increasing number of homeowners across the country, while opening the door to more fully furnished apartments in new markets for our members.”
The acquisition follows a busy 2023 for Landing. The company announced a partnership with verification solution CLEAR in December to speed tenant screening, and in July announced the launch of a new Flex product that allows users to book open houses without a multi-month commitment.
“Bill (Smith) is a true visionary and an extraordinary entrepreneur. I’m excited to work with him and the rest of the Landing team to share their vision for a more flexible future.” Barsala founder and CEO Michael Monu said. “Landing is at the forefront of bringing flexible living to the masses, and this acquisition expands the opportunity to fill gaps and maximize revenue for new and existing real estate partners.”
Monu will join Landing as president of the Barsala division, while Barsala co-founder Michael Copley will serve as vice president of technical operations.
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