Node Raises Funds To Invest $350 Million Into European Co-Living

It looks like COVID-19 is here to stay for the time being, with most experts estimating that the pandemic won't be over until the summer of 2021. We are still far from returning to business as usual but are having to learn to coexist with the virus in our personal and work lives. Businesses are adapting, as well as markets. As we've seen several times in this column, significant funding events are continuing to take place in the current climate, though investors are opting to exert caution on deals. Today, one such event took place as co-living owner and operator Node announced a $350 million (€300 million) deal to grow its European activity.

The funds are the fruit of a JV partnership with independent alternative investment manager Intriva Capital. Node will use them to target development sites and existing buildings to acquire and reposition in key European gateway cities; it also seeks to manage and co-invest in projects with third-party owners and developers.