NODE EXPANDS INTO SPAIN WITH STARCITY SPAIN ACQUISITION

News release by Node Living

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London / Barcelona | December 14, 2021 08:00 AM Eastern Standard Time

Global build-to-rent and coliving asset manager Node has acquired Starcity Spain S.L. to expand its high density urban living platform into Iberia.

The Spanish platform will start with the repositioning and restoration of nine city centre residences in Barcelona and the development of purpose-built communities near key transport hubs in major Spanish cities. All communities will be operated under the Node brand.

Node is pioneering the concept of curated living, a next generation, high density urban rental community that offers furnished studios, one bedroom and shared living accommodation for an all inclusive price with utilities and wifi included. Amenities include a variety of residents' lounges, wellness centres and coworking spaces to cater for the increasing trend of working from home. Members can join a unique global community with Node locations across North America and Europe and participate in curated events.

“We are excited about our expansion into Spain, our fifth country of operations in five years since we started. The Spanish market has huge demand for an affordable and flexible rental offer that meets the needs of young urban professionals. This Spanish venture is proof of the success and global scalability of our business model in a post-COVID environment” said Anil Khera, Founder & CEO of Node.

“We are delighted to partner with Node In what we see as a global consolidation of the coliving and urban living sector. The Node platform uniquely positions us for the next phase of growth in Spain, combining our Barcelona based team and portfolio with Node's global expertise, which will make us the largest and most experienced coliving company in Spain and a European market leader,” said Esteve Almirall, Partner and Head of Iberia at Node and co-founder of Starcity Spain.

Node is uniquely positioned in the market as a 100% founder owned company, which unlike venture backed platforms, has allowed it to focus on building a long term, sustainable business. Node partners with local developers and invests alongside them and institutional investors to develop a new generation of urban rental assets. Node is planning large-scale expansion in the UK, Ireland, Spain, Canada and the US off the back of its recent success in cities including New York, Los Angeles, London and Dublin and has a current pipeline of 8,000 beds totalling over $1.5 billion in asset value.

Node’s coliving model has stood strong over COVID

“Cities are thriving again, 20-30 somethings were the first to return back to city living. Urban environments foster social interaction, creativity, and personal and professional growth by bringing people together. In all of our cities we are back to pre-COVID rents and occupancies” , said Anil Khera.

Many co-living concepts have failed during the pandemic, primarily due to their tiny rooms and dorm-like feeling. The Node model of curated living is different - an offering that combines inspiring interior design and a diverse community of global members similar to Soho House, but within the context of urban living. Node's branded approach to urban living and its business model has proven highly successful during COVID.

Node offers larger sized units, with creatively interior designed spaces and amenities such as SMEG retro fridges, Nest eco-thermostats and an app that connects all residents. There are communal areas for residents to socialise in, but the units are also large enough to allow for self-isolation or simply privacy. Living in a Node building has been a blessing to some residents who have been able to reside in their own apartment spaces but not feel lonely due to the communal living spaces. Node provides residents with a vibrant daytime community in which to work from home; a central, walkable neighbourhood; a "plug and play" interior designed apartment with excellent Wi-Fi; and a safe, sanitary, and professionally managed environment.

"Our concept of curated living, where we give people the benefits of community living but still with the ability to have the privacy of their own home, has been the perfect mix in a pandemic. Residents are still not isolated as they are part of a building where people know and look out for each other. Roommates who do share a unit have created their safe bubble. Those who have individual units have private areas but feel secure yet not isolated. We have found a good balance of where dense urban living needs to be for the future."

Live. Connect. Thrive. Why Node stands out.

Node currently has communities in North America and Europe and has been home to hundreds of residents to date. Crafted for urban professionals, with world renowned design firm DesignAgency, Node’s move-in ready apartments offer sleek in-unit and shared amenities, from gorgeous, hi-spec kitchens to communal coworking spaces. Hassle-free Node living includes utilities and units are uniquely interior designed. Residents can look forward to amenities including:

Locally curated artwork, cleaning services, kitchen, bed and bath packs are also available for residents who want to move in with a suitcase to an “Instagram ready” Node apartment

Founder Bio.

Anil Khera founded Node in 2016, and is the company’s founder and CEO. Anil has worked in real estate for nearly 20 years in the US, Europe and Asia, and was formerly a Managing Director at Blackstone, the world's largest real estate investment firm. Prior to that he worked at Credit Suisse / DLJ in Los Angeles.

For more information, please visit: www.node-living.com Instagram: node.living Facebook: @nodelivingglobal LinkedIn: node.

About Node

Node is a global asset management company that invests, develops and manages high density urban rental communities in creative capital cities around the world. Our mission is to create the next generation of urban living with affordable, design-led and community focused residences that meet the growing needs of urban renters. Node residences are in cities throughout North America and Europe.

Contact Details

Node Living

Nia Thomas

+44 7723 019767

Nia@niapr.com

Company Website

https://node-living.com/