BERKELEY, July 17, 2023 (GLOBE NEWSWIRE) -- To bring efficiency, accessibility, sustainability and community engagement to the Berkeley community, Collab, a real estate investment and asset management company that offers opportunities for co-owning income-generating student housing properties, today expanded its unique digital platform with the addition of two new investment properties and launch of its citywide Community Pro program.
“At Collab, we always strive to find innovative ways to deliver value — and recognize that well-managed properties positively impact residents and the broader community. Between these stunning new properties and the launch of our transformative Community Pro program, Collab’s continued dedication to being a positive force in the Berkeley community is unquestionable,” said Qian Wang, Collab’s founder and CEO. “By providing transparent communication channels, access to important information and opportunities for community feedback and prompt assistance, we empower students and residents to actively participate in the decision-making process, strengthening community bonds and promoting a sense of ownership that elevates the standard of living for student residents, neighbors and Berkeley as a whole.”
Home to the renowned University of California, Berkeley — and one of the highest-demand student housing markets in America — this unique college community currently sits at the intersection of two ideals: a reasonably priced education at a world-class public university and housing in a nice neighborhood. The university only has enough on-campus housing to support 20% of its students, creating challenges for the neighboring community.
The new Berkeley properties, 1850 Scenic Ave. and 1773 Oxford St., help expand Collab’s growing portfolio of student housing investment properties in the community, which now features eight properties and will include around 300 beds. For Collab's flagship investment property, 1742 Spruce, investors are currently awarded a 5% annual dividend, with an estimated mid-double-digit internal rate of return between combined dividend and equity appreciation.
Situated at the corner of Scenic and Hearst avenues, the property on Scenic will be a 44,000-square-foot, 74-unit student housing development upon completion. Also under development, the Oxford Street project is a five-story, 24-unit, 20,995-square-foot student housing investment property located within a 15-minute walk of campus.
Delivering a varied mix of bedroom/bathroom combinations and different layouts, both new investment properties offer the potential for value additions, including increasing the number of beds. Plus, the smaller to midsize nature of the new investment properties facilitates increased investor involvement and participation in Collab’s unique community-centric approach to asset management.
The Collab platform streamlines every aspect of property ownership and maintenance, strengthening relationships between tenants, owners and skilled community members via its newly launched Community Pro program.
— Investors earn monthly dividends through fractional share-based co-ownership of income-generating student housing properties.
— Tenants gain access to affordable student housing opportunities near distinguished universities like UC Berkeley.
— Tenants, investors and local community members can all sign up as a “Community Pro” to perform maintenance or other property management tasks that align with their skill sets to earn money or rent credit.
Supported entirely by the Community Pro program, Collab properties feature no full-time on-site or third-party property managers or maintenance teams. By empowering skilled members of the Collab community to complete various tasks in the task center, the Community Pro program increases the efficiency of investments. When a job requires specialized knowledge or professional expertise, Collab provides access to a trusted network of student housing property management experts. The Community Pro program and integrated industry-leading work order and task management system combine to drive cost savings and mindful property care, ultimately enabling greater returns for investors.
In June, Collab’s Community Pro tenants completed more than 80 tasks, showcasing their dedication to creating a thriving community. Since the launch of the task center in late 2022, Community Pros have completed more than 350 tasks.
“I joined Collab because I am intrigued by the immense possibilities unlocked by collaborative housing that everyone can benefit from. The unique Community Pro program and its innovative task management system have been a game-changer for me,” said Shuxin Chen, a Berkeley-based Community Pro. “The program not only allowed me to earn more money — which I love as a college student — but also fosters a stronger sense of community within our property. I'm thrilled that the entire Berkeley community will now have access to this transformative program, creating a thriving and interconnected community that Berkeley can be proud of.”
For more information about Collab’s student housing rental properties, please visit http://collabhome.io/newRentHomePage.
About Collab
Collab is a real estate investment and asset management company taking a decentralized approach to property management with a first-of-its-kind asset management platform serving the U.S. student housing market. Founded in 2020, the company transforms student housing and asset management for all through a unique community-centered approach. Collab’s vertically integrated platform streamlines every aspect of property ownership and maintenance, inherently fostering a thriving community that incentivizes shared responsibility. By offering fractional shares, Collab makes entering the market and gaining direct access to institutional-quality real estate that can diversify a portfolio and remain recession-proof easier than ever. For more information about how Collab transforms student housing and management for everyone, please visit collabhome.io.
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