TheNFAPost Podcast

One of the fastest-growing technology enabled real estate owners and operators, Starcity, has announced the launch of invest.starcity.com. This first of its kind investment platform allows accredited investors the opportunity to back Starcity development projects.

Starcity Minna San Francisco Lobby (Rendering) (Graphic: Business Wire)

“We are thrilled to launch invest.starcity.com, so investors of all kinds have the opportunity to back Starcity developments. Typically, large-scale institutional investments are reserved for closed-door dealings, and we’re excited to open these deals up to democratize access for more people,” said Starcity CEO and co-founder Jon Dishotsky.

The first project will be Starcity Minna, a fully approved, 16-story, 270 unit, highrise in the South of Market (SoMa) district of San Francisco. Starcity will operate the 122,845 gross square feet development as a furnished residential community targeting middle and low-income residents of San Francisco with a convenient, value-oriented, and highly amenitized residential lifestyle offering.

“Despite the fall in rents in San Francisco this past year, the city remains largely out of reach for working-class professionals. Very few individuals can afford a $3,000 to $4,000 apartment, and we’re excited to deliver units that start in the $900-$1,000 range. This level of affordability has rarely been achieved in San Francisco. Furthermore, major investors and occupiers like Amazon, Blackstone, Google, KKR, Starwood, and others have announced investment initiatives into San Francisco during the pandemic, and Brookfield is going vertical on projects right next door to Minna, so the time is right. And despite noise in the headlines, San Francisco has been a consistently above-market return investment geography due to the supply constraints and demand drivers,” said Starcity co-founder and Chief Investment Officer Mo Sakrani.

Starcity Minna will comprise 15 residential levels over a welcoming ground floor lobby and event space attached to an outdoor patio, as well as a bike repair and storage facility. Each residential level (FL 2-16) hosts 18 private units with ensuite bathrooms and features a 1,000 square feet amenity space that includes a chef’s-style kitchen and dining area, lounge, and media area with expansive city views. The building is topped by a large landscaped rooftop terrace, offering panoramic views of San Francisco.

Starcity Minna will consist of steel modules over a concrete ground-floor podium, tied-together with a concrete elevator core. Four primary module types will make up the private units, corridors, common areas, and stairs. Each module will arrive fully outfitted with furnishings, bathroom and kitchen fixtures, piping, and wiring.

Modular construction is well suited for Starcity Minna for two main reasons. First, San Francisco is one of the most expensive cities to build in globally, and modular construction shifts those costs to an off-site factory. Second, the standardized unit layout is conducive to manufacturing.

“San Francisco remains one of the strongest apartment rental markets in the country. We are delighted to provide access for individual investors into a well-located project poised to capitalize on the city’s next wave of growth and appreciation through technology powered by the Republic platform. Real estate is an $8.9 trillion market, and it’s time for everybody to own a piece of it,” said Janine Yorio, Head of Real Estate at Republic.

Starcity is one of the leading coliving companies and operates over 1,500 units globally, with over 3,000 units in its development and operations pipeline throughout North America and Western Europe and over 10,000 units in negotiations. Starcity is backed by Y Combinator, NEA, Social Capital, Tribe Capital, Bullpen Capital, Deciens, and Industry Ventures.

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