Apartment network Landing receives $180M
Summary
Flexible-lease apartment network Landing has received $180 million in debt financing to support adoption of the companys flexible stay program for multifamily accommodations.The 2019-founded company, which offers subscription access to furnished apartments for members, is working to scale its portfolio as well as its customer service team, marketing efforts and sales efforts.Landing offers people a level of freedom, consistency, and convenience they cant find anywhere else. No matter where they gofor however longwe guarantee they can feel at home with the accommodations, amenities and locations they love, said Bill Smith, founder and CEO of Landing.Smith said the company has grown tremendously. The company now has more than 7,000 apartments as part of its network, according to its website.The growth, he said, allows the company to provide multifamily partners with incremental revenue in an effort to improve profitability on their assets.As we build on this momentum, were focused on growing our network and providing greater optionality and value to our customers and partners alike, Smith said.Landing introduced its multifamily platform in 2023. The platform aims to give multifamily unit owners the ability to fill inventory more quickly.Landing made headlines when it acquired flexible housing operator Barsala last year. It also raised $125 million in 2022 as part of its Series C round of funding, which was made up of new capital and debt financing.