UK: Coliving developer and operator The Collective is considering a full or partial sale of the business.
According to a report in Bloomberg “people familiar with the process” said that the privately-held company, which has properties in London and New York, has appointed Credit Suisse Group AG to conduct a strategic review which may lead to a full or partial sale.
The Collective has 1,623 operating units and a development pipeline of 6,590 units across the UK, US and Germany.
The article didn’t place a potential value on the company, which has a £140 million pound loan from lenders including Deutsche Bank AG, with terms that have twice been amended since the onset of the pandemic.
Founded in 2010, the company last month amended its management structure, appointing Simon Koster as CEO, while founder Reza Merchant became chairman.
Neither The Collective or Credit Suisse commented on the report.
