BEI Capital has selected Common to run its residential units inside San Francisco’s innovative commercial property
San Francisco, September 16, 2021 — Common, the global residential brand creating a better kind of property manager, today announced its partnership with the BEI Hotel San Francisco to bring long-term residential units to the property. The BEI Hotel San Francisco, owned by BEI Capital, has brought on Common to turn a portion of its hotel rooms into studio apartments at highly attainable prices in the Bay Area. Through long-term leases and additional community-focused services like neighborhood events, Common is creating a new kind of housing product in the hospitality industry.
While Common manages microunits across its entire portfolio in cities like Seattle and NYC, this is the launch of the company’s initiative to bring microunit residential typologies to hotel buildings across major US cities. A first-of-its-kind partnership, on floors seven to nine of the hotel 120 BEI rooms have been converted into efficiency studios, perfect for a renter looking to get better value and more convenience from where they live. The units, called Common BEI, are priced 20% less than a comparable studio in the Civic Center area and give renters access to the stand out amenities of the hotel including a recently renovated wellness center, expansive outdoor terrace and more.
“As Common continues to expand in the Bay Area, I am so delighted to partner with the BEI Hotel San Francisco on this unique and efficient hospitality and housing approach. Since COVID-19 first hit the US, we’ve been looking for new ways to bring additional apartment stock to San Francisco in strategic and sometimes unconventional ways,” said Karlene HollomanCommon’s EVP of Property Management. “While the multifamily industry has been busy predicting a future of hotel-to-residential conversions for over a year, Common and the BEI Hotel San Francisco are actually doing it. I’m looking forward to seeing this creative partnership continue to grow.”
The property was originally built in 1969 and was renovated and reopened in 2019 by BEI Capital and transformed into the BEI Hotel San Francisco. BEI Capital has redefined the spaces travelers stay, work and discover with this hotel by making room for comfort and flexibility for those craving new experiences in diverse cities. The hotel is centrally located in San Francisco near City Hall and is within walking distance to the BART transportation system, making the property an ideal location for travelers and city dwellers alike.
Apartments at Common BEI are fully furnished studios and include a bed, nightstand, flat screen TV and more. Rent starts at $1,650. Residents will have access to Common’s app that includes a portal to connect with other Common members. Units are available for lease at Common.com/BEI.
Common entered San Francisco in 2017 with Common MacArthur. Today, it has 821units under management in the Bay Area including its 536-unit coliving flagship Common City Gardens. In early 2021, Common took over select management agreements from Starcity, the San Francisco-based coliving company, including the operations of 8 buildings. Today, Common has 7,000 units under management with an additional 22,000 signed and under development in the US, Canada, and Europe.
Common is a residential brand creating a better kind of multifamily property manager through innovations in technology, design, and operations. Common delivers exceptional experiences for renters across twelve cities and nearly 7,000 units in coliving, microunit, and traditional apartments. They are the preferred choice for both residents looking for a stress-free and all-inclusive living environment from a trusted brand, and for real estate owners seeking reliable, above-market returns. The Common platform also includes workforce housing management brand Noah and family-first operator Mily. With over 22,000 units signed and under development and over $110 million in venture capital investment, Common is expanding into 22 cities across the world. To work with us, visit our partners page or follow us on instagram at @common.living.