Coworking community The Commons has secured a strategic investment from Melbourne-based property development group Riverlee that will help it scale its operations from three locations to 15 over the next three years.
With spaces currently operating in South Melbourne, Collingwood, and the Sydney CBD, The Commons is soon set to open in Cremorne and the Melbourne CBD. Among its residents are the likes of PayPal, Eventbrite, and VenueMob.
Along with its investment, Riverlee will lend The Commons its expertise within the commercial property space to help the organisation identify real estate opportunities, including within the Riverlee portfolio.
Cliff Ho, cofounder and CEO of The Commons, said that while The Commons wasn’t actively looking for investment, the shared vision and alignment of values between the two organisations meant a partnership made sense.
“Riverlee’s knowledge and proven experience within the Australian property market is unrivalled and made for a well aligned strategic partnership. Our goal is not to be a juggernaut within the industry; we strategically plan each location to ensure we attract a particular type of business to our space and as such, can curate the members we have,” Ho said.