In Case You Missed It
PadSplit Locks In ORIX USA Growth Capital; And the American Co-Living Machine Keeps Accelerating
Three weeks ago, we published our deep dive on PadSplit, the 30,000-room co-living marketplace operating without community managers. This week, PadSplit proved exactly why we called it the most consequential coliving company in America right now.
On April 7, PadSplit announced it has closed a new debt financing facility from ORIX USA’s Growth Capital business. The deal is designed to accelerate PadSplit’s expansion of affordable shared housing across the United States, adding supply in markets where the housing shortage is most severe.
This is significant on two levels. First, ORIX USA isn’t a niche impact fund; it’s a subsidiary of a $100+ billion global financial services group. When capital of this caliber backs coliving infrastructure, it signals that institutional markets now view shared housing not as an experiment but as a scalable asset class. Second, the financing is debt, not equity, meaning PadSplit’s founders retain control while accessing the growth capital they need to expand into new metros.
What this means for operators: PadSplit’s model is fundamentally different from community-driven coliving. It’s infrastructure-first, affordability-first, and technology-first. But its growth trajectory shows that governments and institutional capital are increasingly willing to back shared housing models that solve supply problems at scale. If you’re an operator building community-centric coliving, the rising tide of institutional acceptance benefits you too.
Source: Voice of Alexandria
Federal Appeals Court Upholds America’s Most Controversial Coliving Ban
If you want to understand the single biggest regulatory risk facing coliving in the United States, look at what just happened in Shawnee, Kansas.
A federal appeals court has upheld a 2022 Shawnee ordinance that prohibits more than three unrelated people from living together in a single dwelling. The ruling, covered by the Johnson County Post, KCUR, and the Kansas City Star, dismisses a lawsuit that challenged the ban on constitutional grounds.
The implications are enormous. Shawnee’s ordinance, widely referred to as the “coliving ban," was adopted as housing costs surged across Johnson County. Proponents framed it as neighborhood preservation. Opponents argued it criminalizes exactly the kind of shared housing that working people need to afford rent.
Why every operator and investor should pay attention: This ruling sets a precedent. If municipalities can legally restrict how many unrelated adults share a home, the entire co-living model, from house-hacking to purpose-built shared living, faces existential local zoning risk in hundreds of U.S. cities with similar ordinances. The court’s reasoning will likely be cited by other jurisdictions considering coliving restrictions.
Sources: Johnson County Post · KCUR · Kansas City Star
4.1 Million Australians Now Coliving to Survive the Cost-of-Living Crisis
The data just landed, and it’s staggering: 4.1 million Australians have moved in with someone or stayed living with someone purely to ease financial pressure.
New research published by Finder.com.au reveals that co-living is no longer a lifestyle choice in Australia; it’s a survival strategy. Millions of Australians are sharing homes not because they want community, flexibility, or a curated social experience, but because they literally cannot afford to live alone.
This is a dramatic acceleration from pre-pandemic norms. The cost-of-living crisis driven by rent increases averaging 8-12% year-on-year in Sydney and Melbourne, combined with grocery inflation and stagnant wages has pushed shared living from the margins of the housing market to the center.
What this means for the industry: Australia’s coliving market has been dominated by purpose-built operators like UKO, Hmlet, and Oxford in the premium segment. But this Finder data reveals that the real demand is in the affordability segment, and it’s massive. 4.1 million people isn’t a niche; it’s a national housing pattern. Operators who can bridge the gap between informal house-sharing and structured coliving with quality management, community infrastructure, and fair pricing have a generational market opportunity.
Meanwhile, Apt.Residential launched Apt.Broadway, its second Sydney coliving development, and reports from South Korea show coliving gaining traction among MZ generation renters, suggesting this isn’t just an Australian trend. It’s a global cost-of-living response.
Sources: Finder Australia · BTR News Australia
Barcelona’s Coliving Eviction Saga: Property Owner Forced to Negotiate for the First Time
If you read our last edition, you know about the mass protests in Barcelona’s Gràcia neighborhood that halted the eviction of long-term tenant Txema from a building owned by New Amsterdam Developers. The story has now entered a new phase and it’s one that every operator entering the Spanish market needs to watch.
On April 10, neighborhood pressure forced the Sant Agustí block’s property owner to negotiate for the first time, according to ara.cat. The eviction was suspended again after New Amsterdam Developers, at the urging of Barcelona’s Sindicatura (ombudsman), presented a request to the court to delay the eviction of Txema. La Vanguardia and Metrópoli Abierta both confirmed the postponement.
But that’s not all. In a separate building on Carrer Sepulveda, 16 neighbors are now demanding contract renewals after learning the coliving firm may sell the building. The firm, specialised in room rental and coliving, maintains its model focuses on temporary housing for students and young professionals but residents say their permanent homes are at stake.
Spain’s flex-living pivot: Adding a new dimension to this story, El Confidencial published a provocative piece this week declaring coliving dead in Spain, replaced by “flex-living.” The argument: Spain’s defense of residential use rights is effectively killing the traditional coliving model, and operators are pivoting to flex-living, a hybrid model that better navigates the regulatory landscape. Whether you agree with the framing or not, the underlying signal is clear: the regulatory environment in Spain is reshaping business models in real time.
Sources: ara.cat · La Vanguardia · El Confidencial · APD Barcelona
Everything Else Coliving
The stories, deals, projects, and policy moves that didn’t get a deep dive but absolutely belong on your radar this fortnight.
UK Development Pipeline
Bristol: 275 co-living homes proposed on brownfield site. Yara Capital unveils plans to revitalize underutilized land with co-living homes and workspaces, doubling employment space. BristolWorld · The Business Desk
Ashton Warehouse is earmarked for co-living conversion. An empty warehouse in Greater Manchester is planned for co-living with a communal social space, gym, publicly accessible cafe, and launderette. Yahoo News UK · Tameside Radio
Exeter: 296 co-living flats could threaten Roman ruins. Developers and archaeologists clash over a 300-unit co-living scheme on the Mary Arches car park site. Devon Live
Margate Football Club: co-living block proposed. The application says co-living is a growing housing solution, with new South End terrace and residential units planned at the club grounds.
South Shields: 18-bed HMO with cinema room and private balcony. Fresh plans to convert a town center pub into co-living accommodation in the northeast.
Deals & Capital
Vietnamese operator M Village said to be raising fresh funding. DealStreetAsia reports M Village is in advanced talks to close a new round the latest sign of Southeast Asia’s co-living growth. DealStreetAsia
Homizy to present a coliving build-to-rent model at an investor conference. Italian co-living company Homizy SpA heads to Banca Profilo’s investor day to pitch its BTR co-living platform. TipRanks
TRIN acquires majority stake in Prime Land. Indonesian property developer pushes into hospitality and coliving through the strategic acquisition.
New Projects & Concepts
The Babel Community: ArchDaily features Marseille coliving residence. D’HOUNDT+BAJART Architectes’ coliving residence gets the full ArchDaily treatment. 38 images of community-first design. ArchDaily
Rafal Real Estate launches its first coliving in Riyadh. In partnership with Hive Coliv, Rafal brings co-living to Saudi Arabia’s capital, a first for the Kingdom. Sabq
Switzerland: “Zämehuus” co-living opens in historic post office. Six modern co-living apartments with shared spaces inside a heritage building in Kaiserstuhl. Aargauer Zeitung
BienCasa launches “Flatmate”: structured co-living for Africa. TechCabal reports on the platform, tackling housing affordability through infrastructure for modern shared living. TechCabal
Ibiza proposes coliving for seasonal workers. Local authorities push for dignified temporary housing for the island's tourism workforce. Periódico de Ibiza
Events & Community
National Co-Living Conference: Denver, June 5-6. The world’s largest co-living investment event returns to the DoubleTree by Hilton Cherry Creek. Focused on 2-3X rental income strategies and industry collaboration. If you’re building or investing in co-living in North America, this is the room to be in. Details →
Senior & Intergenerational Coliving
Sacramento agency helps older adults through co-living. AAA4’s Key Connections co-living coordinator provides education and support to homeowners and potential tenants. National Today
Santa Fe retirement community reimagined as intentional co-living. Private units, shared common areas, a gym, and hiking trails, the senior co-living model evolves in New Mexico. National Today
Market Trends
France: colocation attracts 30, 40, 50, and 60-year-olds. Slate France reports co-living is gaining traction well beyond students, driven by affordability, social connection, and the growth of turnkey coliving models. Slate France
Sydney co-living developments booming across suburbs. Small-format co-living construction is dominating new development applications near university campuses across NSW.
South Korea’s MZ generation embraces co-living. Daum reports rising interest in shared housing among young Koreans who want community without isolation.
Barcelona room rents are still highest in Spain despite regulation. Price controls haven’t lowered room rental costs; Barcelona remains Spain’s most expensive market for shared housing. Regio 7
Antwerp’s Seefhoek quarter: coliving and cohousing making inroads. Belgian neighborhood upgrading through co-living development. GVA
Norway: A popular coliving concept arrives in Voss. International coliving brings global visitors to the Norwegian mountain town. Avisa Hordaland
Spotlight: The Coliving M&A Marketplace
Every mature asset class needs a secondary market. Hotels have it. Student housing has it. BTR has it. Until now, coliving didn’t. That’s why we built the Coliving M&A Marketplace, the first and only dedicated platform for buying, selling, and investing in coliving businesses.
Here’s the reality: with institutional capital now flowing at scale, PadSplit securing ORIX USA financing, M Village raising funds in Vietnam, TRIN acquiring prime land in Indonesia, and Homizy pitching BTR co-living to European investors, the coliving industry needs transaction infrastructure. Operators looking to exit need qualified buyers. Investors looking to enter need vetted opportunities. Neither side should be navigating these waters through cold LinkedIn messages and conference hallway conversations.
What the M&A Marketplace offers:
Sell your coliving business: list your operation, set your terms, and connect with qualified buyers. No brokers. No commissions.
Buy a coliving business: browse vetted opportunities across markets, business models, and price points.
Invest in coliving: find operators seeking capital, from seed-stage to institutional-scale portfolios.
Confidential process: your listing is visible only to registered, verified participants.
Whether you’re a single-property operator considering your next chapter or a fund manager building a portfolio, the M&A Marketplace is where the coliving industry does deals.
What I’m Thinking About This Week
Two stories in this edition sit at opposite ends of the same spectrum. In Shawnee, Kansas, a federal court just ruled that a city can legally prevent more than three unrelated adults from sharing a home. In Australia, 4.1 million people are sharing homes because they have no other option. One jurisdiction is criminalizing the very behavior that another continent is depending on for survival.
This is the tension that will define coliving’s next decade. The demand isn’t going anywhere; if anything, the cost-of-living crisis is making shared housing more essential, not less. But the regulatory and political response to that demand is wildly uneven. In some markets, coliving is being embraced as a housing solution. In others, it’s being treated as a threat to neighborhood character.
Our job as operators, investors, and advocates is to make the case that coliving adds to communities, not subtracts from them. The operators who build with that mindset will shape policy. The ones who don’t will be shaped by it.
If you’re a coliving operator and you’re not yet listed on BookMyColiving.com, take five minutes today. Free forever. No commissions. Direct tenant connections. And if you’re a vendor, get listed in our Vendor Directory. Thousands of operators making buying decisions every month.
Hit reply and tell me, what do you want to read next? What did I miss? This newsletter is built for you, so build it with me.
Until next time,
Mayank Pokharna
Everything Coliving · BookMyColiving · LinkedIn
