Premium global co-working operator on an accelerated growth path
Special Situation
Overview
Mindspace is a premium global co-working operator on an accelerating growth path
Crossroads is the largest individual shareholder and takes an active role in the management and business of the Company
Platform
Year
2017
Asset type
Global Co-Working
Location
Europe, Israel, North America
Investment Highlights
- Capitalise on broader shift towards flexible office space / co-working
- Grown to 46 locations across 23 cities and 7 countries
- Launched income diversification and ancillary revenue streams
- Early stage investment and sourced off-market
- Leveraging our hospitality expertise in a “office hospitality” play
Achievements
Growth in operating locations
- Expanded to 46 locations globally across 23 cities and 7 countries with 10 further locations signed and due to open in the next 18 months
Innovative risk management practices
- Minimising operational risk through portfolio expansion utilising hybrid lease agreements with landlords in which a below market base rent is agreed along with a share of the upside
Income diversification initiatives
- Disciplined underwriting with a data driven approach, incorporating macroeconomic trends and proprietary information
- Host is Mindspace's new event product, offering a turnkey solution to host events in spaces that are considered solely amenities for members
- Activate is a premium tenant experience offering designed to deliver hospitality-grade managed services to commercial buildings
ESG
Collective impact
- Taking steps to have a collective impact at its locations
- Mindspace introduced seven environmental and social initiatives
Energy efficiency measures
- Significant measures have already taken place at certain Mindspace locations
- Mindspace are committed to measuring and reducing its carbon emissions
Portfolio
