- Outpost Club takes control of select Common properties in NYC post-bankruptcy.
- Outpost Club aims for seamless, stabler co-living experiences for both tenants and landlords.
- By acquiring the units, Outpost Club solidifies its leading position in the co-living market.
As reported by Bisnow, Outpost Club will take over several Common Living properties after the latter’s bankruptcy, aiming for operational continuity and expansion.
Part of a Bigger Plan
Amid Common Living’s Chapter 11 bankruptcy, Outpost Club, a co-living and management firm, has decided to step in to manage some of its U.S. properties, including those in NYC, with plans for expansion.
The swift acquisition of Common’s assets positions Outpost Club as a key player in the co-living industry and sets the stage for expansion across multiple states. Outpost Club intends to take over more units, primarily in New York, Florida, Texas, and New Jersey, to maintain operational continuity and profitability for landlords while serving current tenants.
Not Their First Rodeo
Outpost Club’s track record of adeptly taking over management responsibilities from struggling competitors is already well established. After Bedly and Quarters faced closures, for example, Outpost facilitated lease transfers and sublease agreements, while also handling the aftermath of bankruptcies for other operators.
Focused on operational support and preventing disruptions, Outpost Club’s proactive approach ensured the smooth transition and management of affected co-living units, showcasing the company’s expertise when it comes to navigating sector shifts.
Stabler Co-Living Communities
Established in 2016, Outpost Club has steadily grown its property management portfolio for 8 years. And as Outpost Club looks to double its managed properties over the next two years, its robust operational framework and adaptable business model demonstrate long-term viability.
Through strategic acquisitions and a focus on operational efficiency, Outpost Club sets a precedent for sustainable growth and effective management practices, solidifying its position as a leading player in the evolving co-living landscape.
Why It Matters
The takeover of Common’s co-living units by Outpost Club is a pivotal moment for the new and growing co-living sector. The company’s proactive approach also underscores its commitment to fostering stable and thriving co-living communities amidst industry challenges, showcasing Outpost Club’s dedication to preserving the essence of shared living experiences.
