Latest news with #Roofstock
Business Wire
19-05-2025
- Business
- Business Wire
Proptech Innovator Roofstock Launches Short-Term Rental Management Division With Investment in Casago
BUSINESS WIRE)-- Roofstock, a leading platform for investing in and managing single-family rental (SFR) homes, announced its participation in the investor consortium that took Vacasa, Inc. private on May 1. As part of the transaction, Roofstock has secured an ownership stake in Casago, the merged entity, and will officially enter the short-term rental management business by launching Casago franchises in three popular travel destinations: This strategic expansion reflects Roofstock's commitment to delivering a unified platform of proprietary data and institutional-grade tools for real estate investors of all sizes to research, acquire, manage, and optimize rental properties—whether long-term or short-term. 'Today is an exciting day at Roofstock and for our industry. Historically, we have focused on providing end-to-end real estate investment services for the SFR industry across the ownership lifecycle; from buying to managing to selling. We are excited to extend this suite of products and tools to the massive short-term rental sector, and we couldn't be more excited to partner with Casago,' said Gary Beasley, co-founder and CEO of Roofstock. By partnering with Casago's franchise network, Roofstock will extend its Rental Genome™ powered tools, such as automated underwriting, home mapping and real-time portfolio intelligence, as well as Stessa, its asset management and accounting software, to the short-term rental sector—simplifying the owner experience and enhancing returns for investors. 'Our initial markets of Tampa, Charleston, and the Oregon Coast each enjoy strong tourism dynamics and robust demand. We look forward to working with short-term rental investors to help them optimize the performance of their homes while providing exceptional experiences to our guests,' said Doug Brien, president of Roofstock and co-Founder of Mynd, which merged with Roofstock last year. Roofstock has appointed Craig Rashkow to lead its short-term rental division. Rashkow brings deep experience across short-term and long-term rental operations, having held leadership roles at several innovative real estate and hospitality companies, including Sonder and Summer. With a background in scaling high-performing service organizations that leverage modern technology tools, he brings a unique perspective to the convergence of SFR and STR strategies. 'We're pioneering the integration of single-family and short-term rentals with the technology investors need to participate in a cohesive and data-driven way,' said Rashkow. 'Having worked across both asset types, I've long believed that unifying them is a critical next step for the industry and for investors. Roofstock is uniquely positioned to lead this evolution—and I'm thrilled to help make it happen.' Debt financing to support Roofstock's investment in this transaction was provided by Coromandel Capital. 'Coromandel is proud to support Roofstock in expanding its platform into the STR space. This marks a natural evolution in the convergence of SFR and STR models, and we believe Roofstock – armed with a best-in-class technology platform, unparalleled data insights, deep operational expertise, and a premier property management platform – is uniquely positioned to lead this transformation. We are excited to back a team that shares our vision for modernizing real estate investment infrastructure,' said Alex Wu, Co-Founder at Coromandel. About Roofstock Roofstock's mission is to Reinvent the Rental Housing Ecosystem for the Benefit of all. Its platform empowers investors of all sizes to buy, sell, and manage residential investment properties with confidence. Roofstock's platform combines data-driven insights, integrated property management, and a nationwide footprint to dramatically simplify real estate investing. The company has helped facilitate over $9B of transactions, currently manages over 20,000 rental homes, and empowers 300,000+ owners to more efficiently manage over 1M units with its Stessa asset management software. Roofstock has been helping revolutionize real estate investing since 2015, and is backed by a world-class group of investors including Softbank, Khosla Ventures, Bain Capital Ventures, Lightspeed Venture Partners, QED Investors and Invesco. About Casago Casago is a top-rated vacation rental management company providing professional property management services for homeowners across North America, Belize, Costa Rica and the Caribbean. Founded in 2001 by former Army Ranger Steve Schwab, Casago has earned a reputation for delivering exceptional guest experiences and reliable property management services through a franchise-driven model. In 2025, Casago expanded its footprint by acquiring Vacasa, a leading vacation rental platform in North America. With a customer-centric approach, the combined company empowers local teams to provide personalized, responsive support for both homeowners and guests. Casago's commitment to quality is reflected in its industry recognition: it is the only property management company of its scale to be rated in the Top 1% by Comparent. Additionally, nearly 95% of U.S.-based local operating partners are Airbnb Superhosts, VRBO Premier Partners, or both. Founded in 2019, Coromandel is a solution-oriented partner providing bespoke, non-dilutive senior secured capital solutions to leading FinTech, specialty finance, and tech-enabled Companies. Coromandel thrives in the unconventional and esoteric across the corporate Lifecycle. Coromandel provides investors with access to innovative, uncorrelated opportunities with its meticulously constructed portfolios.
Business Wire
01-05-2025
- Business
- Business Wire
Casago Completes Acquisition of Vacasa
PHOENIX & PORTLAND, Ore.--(BUSINESS WIRE)-- Casago, a premier vacation rental property management company, today announced the completion of its acquisition of Vacasa, Inc. ('Vacasa'), a leading vacation rental management platform in North America. The transaction, a watershed moment for the U.S. vacation rental industry, combines the strengths of both companies to create an industry-leading brand managing over 40,000 properties across North America, Belize, Costa Rica and the Caribbean. Casago brings 25 years of experience delivering owner- and guest-focused management through its locally rooted model. Casago founder and CEO Steve Schwab, who will lead the combined entity, commented, 'Today marks an exciting new chapter as Casago and Vacasa come together. Our vision is clear: to build the most trusted brand in vacation rental management — one relationship at a time. By combining our strengths, we will create new opportunities for our homeowners, guests, partners, and teammates, while staying true to the values that have made Casago who we are.' Schwab continued, 'This isn't just the joining together of two companies, it's a commitment to service, to hospitality, and to delivering a better way of caring for a second home.' In addition, Roofstock, a leading proptech platform, invested in the transaction and has become a partner in Casago, seeking to leverage its decade of experience using technology to enhance property management capabilities, customer experience and liquidity for residential property investors. Roofstock brings deep real estate expertise through its service offerings and software solutions, including helping more than 300,000 property owners with nearly 1 million units optimize the performance of their rental properties. With the completion of the acquisition, Vacasa's common stock has ceased trading and is no longer publicly listed on the Nasdaq. Representation Jefferies LLC served as financial advisor and Skadden, Arps, Meagher & Flom LLP served as legal advisor to Casago in connection with the transaction. PJT Partners served as financial advisor and Vinson & Elkins LLP served as legal advisor to the Special Committee of the Vacasa Board of Directors. Latham & Watkins LLP served as legal advisor to Vacasa. About Casago Casago is a premier vacation rental management company, overseeing nearly 5,000 properties across 72 cities in the United States, Mexico, Costa Rica, and the Caribbean. Founded in 2001 by former Army Ranger Steve Schwab, Casago has earned a reputation for delivering exceptional guest experiences and reliable property management services. With a customer-centric approach, the company empowers local teams to provide personalized, responsive support for both homeowners and guests. Casago's commitment to quality is reflected in its industry recognition: it is the only property management company of its scale to be rated in the Top 1% by Comparent. Additionally, nearly 95% of U.S.-based local operating partners are Airbnb Superhosts, VRBO Premier Partners, or both. About Vacasa Vacasa is a leading vacation rental management platform in North America, transforming the vacation rental experience by integrating purpose-built technology with expert local and national teams. Homeowners enjoy earning significant incremental income on one of their most valuable assets, delivered by the company's unmatched technology that is designed to adjust rates in real time to maximize revenue. Guests can relax comfortably in thousands of Vacasa homes in hundreds of destinations across the United States, and in Belize, Canada, Costa Rica, and Mexico, knowing that 24/7 support is just a phone call away. In addition to enabling guests to search, discover and book its properties on and the Vacasa Guest App, Vacasa provides valuable, professionally managed inventory to top channel partners, including Airbnb, and Vrbo. About Roofstock Roofstock's mission is to power the residential investment ecosystem for the benefit of all. The company's award-winning, tech-enabled end-to-end platform helps investors buy, sell and manage single-family rental properties in over 40 markets around the U.S. Founded in 2015, Roofstock is backed by a blue-chip roster of investors including Khosla Ventures, Bain Capital Ventures, QED, Lightspeed Venture Partners, Canvas Ventures, Invesco and SoftBank Vision Fund 2. Roofstock has facilitated more than $9 billion in buy and sell-side transactions on its platform to date, manages 20,000 rental homes through its Mynd affiliate, and provides asset management software for over 300,000 landlords owning nearly 1 million units through its affiliate Stessa.
Yahoo
01-03-2025
- Business
- Yahoo
5 Purchases That Will Help the Middle Class Build Wealth
If you're earning a middle class paycheck and actively trying to increase your wealth, you might find yourself stumped as to how to go about it. Learn More: Try This: While you may not grow your riches overnight, there are certain money moves you can make to help you reach your goals. Below are some of the top purchases that will help you build wealth if you're part of the middle class. According to James Francis, CEO of Paradigm Asset Management, one of the most valuable purchases middle-class families can make is financial education — whether through books, online courses or working with a financial coach. Understanding how to budget, invest and leverage tax advantages can create long-term financial security. 'Even a $200 investment in the right course can provide lifelong returns by teaching strategies to avoid debt, maximize retirement accounts and generate passive income,' Francis explained. Find Out: 'Owning real estate has always been a key path to wealth, but for many, the cost of homeownership is too high,' said Francis. 'Now, middle-class investors can buy into real estate through fractional ownership platforms like Fundrise or Roofstock, which allow them to invest in rental properties with as little as $100.' He said this offers access to property appreciation and passive income without the barriers of traditional real estate investing. Instead of just going with mutual funds that charge high fees, Francis said middle-class investors now have the option to buy direct indexing portfolios. This allows you to own a customized mix of stocks that follow an index, while also helping with tax savings and even aligning with your personal values. 'It's a strategy that used to be only for the ultra-wealthy, but now platforms like Wealthfront and Vanguard Personalized Indexing are making it way more accessible,' he said. 'One of the smartest investments isn't just in stocks or real estate — it's in yourself,' said Francis. He noted middle-class professionals can seriously level up their earning power with high-value certifications like PMP, coding bootcamps or even AI and cybersecurity training. 'These kinds of skills can lead to pretty big salary jumps — $10,000, sometimes even $50,000 more a year. And when you add that up over time, it can make a huge difference in building real wealth.' 'Getting the right tools, software or even just some basic inventory to kick off a side hustle can be a game-changer for building wealth,' Francis explained. Whether it's setting up a small online shop with Shopify, putting some money into a solid business course or just getting the right gear for a high-demand service, these kinds of small but smart purchases can open up extra income. 'And having that extra stream of cash can make a big difference instead of just depending on a paycheck,' Francis said. 'These are just a few smart purchases that can help middle-class families start building wealth over time.' More From GOBankingRates Here's the Minimum Salary Required To Be Considered Upper-Middle Class in 2025 The Money You Need To Save Monthly To Retire Comfortably in Every State 7 Tax Loopholes the Rich Use To Pay Less and Build More WealthThis article originally appeared on 5 Purchases That Will Help the Middle Class Build Wealth
