The Collective has appointed Adam Francis to head up its asset management in the UK and Ireland as VP of investment management.
He will oversee the co-living operator’s built assets and manage institutional investor relations.
Francis joins from Blackstone’s property management arm, where he looked after a portfolio of office, retail and alternative investments.
His appointment comes as The Collective has run into delays at its largest scheme to date in Canary Wharf, with early movers offered accommodation at the nearby InterContinental hotel.
The co-living operator is targeting rapid expansion in the UK, Ireland, Germany and the United States.
It recently got the green light for its 292-room scheme at Trewint Street in Earlsfield, and has a pipeline of developments in Hackney and Harrow, alongside its Stratford High Street scheme, which has been sat pending approval from the GLA for two years.
Jill Ju, global investment director at The Collective said: “Our plans for continued expansion over the next few years have made it increasingly essential that the high standards associated with The Collective’s homes are maintained across our developments, particularly as we evolve and begin to create new neighbourhoods and places.”
Francis added: “Continued urbanisation and the need for housing is a key issue across all cities and it has put an onus on co-living as an asset class.”
The Collective was founded in 2012 by Reza Merchant. It has a portfolio of 7,500 units at various stages of development with a GDV of £3bn, and plans to grow this to more than 100,000 by 2025.
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