Landing, the company behind flexible apartment living membership, has acquired Barsala, a tech-enabled flexible housing operator, for $30 million. The acquisition scales Landing’s full-service Autopilot offering, which maximizes revenue for multifamily property partners by adding furnished, flexible living into their apartment communities. Landing will add more than 1,000 units across 11 markets to its Autopilot program.
“By activating otherwise vacant units using a combination of technology and marketing, Barsala has built a profitable model and strong reputation, cultivating deep partnerships with Class A multifamily property owners,” says Bill Smith, founder and CEO of Landing.
“This acquisition allows us to bring the benefits of our Autopilot platform and heightened demand from our qualified members to a growing number of property owners across the country while opening doors to more fully furnished apartment homes in new markets for our members.”
Founded in 2016, Barsala has partnered with multifamily developers across the country to convert thousands of vacant, zero-income-producing units into fully furnished rentals. As part of Landing, Barsala’s partners will now unlock virtually instant demand through Landing’s nationwide community of members seeking quality, furnished apartments. Property owners will also gain access to Landing’s corporate housing demand and can minimize vacancy gaps with Standby bookings.
“Bill is a true visionary and an extraordinary entrepreneur. I am thrilled to join forces with him and the rest of the Landing team, and share their vision for a more flexible future,” says Michael Monu, founder and CEO of Barsala. “Landing is at the forefront of bringing flexible living to the masses, and this acquisition amplifies the opportunity to offset vacancies and maximize revenue for both new and existing property partners.”
Monu will join Landing as president of the Barsala division, and co-founder and chief technology officer Michael Copley will join as vice president of technology operations.
