MIAMI—Seeing strong growth potential in the concept of multifamily development with home sharing in mind, Brookfield Property Partners will invest up to $200 million in Niido, a partnership between Airbnb and locally based Newgard Development Group. Brookfield's initial investment will be in the first ground-up Niido property, now under construction in the Orlando suburb of Kissimmee, FL and slated to open in the first quarter of 2018.

Silverpeak Real Estate Partners has committed $20 million of equity alongside Brookfield, thereby providing a further boost to the venture's ability to scale up quickly. “Niido provides an opportunity to acquire quality multifamily product while simultaneously capitalizing on an increasing demand for home-sharing opportunities,” says Silverpeak managing director Brad Lebowitz.

For Brookfield, the partnership with Niido and Silverpeak represents an opportunity “to grow and diversify our multifamily real estate investments,” says Jonathan Moore, managing director with Brookfield's multifamily business. “Brookfield is well-positioned to apply its investment capital and experience to help Niido take home-sharing to major cities in the US.”