Ollie Announces West Coast Expansion

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May 19, 2020, 10:15 ET

NEW YORK, May 19, 2020 /PRNewswire/ -- Ollie, a pioneer in providing housing as a service and operating micro-housing, coliving, and conventional apartments, is excited to announce its expansion into California with two new projects. The company has entered into agreements for two multifamily assets consisting of over 500 bedrooms, one in Los Angeles scheduled to open in 2020 and another in the San Francisco Bay Area scheduled to open in 2023.

Following the change in leadership announced earlier this year, the company has sought to focus its growth on key markets to create a more long-term and sustainable business model. As a result, Ollie has been directly targeting Los Angeles and the Bay Area and expects to grow significantly in both markets over the next few years.

Since January 2020, Ollie's President, Gregg Christiansen, has led this strategic repositioning and guided the company's response to COVID-19. The company benefits from Mr. Christiansen's extensive background in private equity, real estate investments, and real estate operations, specializing in high-touch management services.

Additionally, Ollie is strategizing with new partners to find creative solutions in turn-around, value-add, distressed, and COVID-19 impacted properties, leveraging Ollie's thought leadership in providing design and tech-enabled management services that are needed during these challenging times.

Edward Casal, Chairman of Ollie's Board of Directors commented: "Gregg's proven track record of strong leadership and deep industry experience is well-positioned for Ollie's future growth, and we're excited to work closely with him and the rest of the Ollie team."

About Ollie

Ollie is a leading housing solutions platform. In partnership with institutional real estate investors and developers, Ollie revolutionizes the living experience for renters through an "inclusive living" experience that combines thoughtfully appointed furnished studios and suites with extraordinary lifestyle-relevant services and unique community engagement activities. Ollie manages 7 properties, representing over 1,500 bedrooms across 5 metro areas (New York, Los Angeles, San Francisco, Boston and Pittsburgh). For more information, visit www.ollie.co.

Contact: Ryan Murphy | Ollie | [email protected]

SOURCE Ollie