Bob W, a tech-powered hospitality operator, and Osborne+Co Investment Management (OCIM), the investment arm of Osborne+Co, have launched a GBP 120 million (~USD 155 million) equity raise to acquire and repurpose hotel and office assets into high-quality serviced apartments.

The funds will transform 20–25 buildings into 1,500–2,000 modern serviced apartments across key European markets like Ireland, Portugal, Spain, Poland, and the UK. The joint venture aims to have its first assets operational within 18 months, targeting a gross development value (GDV) over GBP 400 million (~USD 517 million).

The joint venture will identify underperforming assets and repurpose them into serviced apartments, delivering environmental benefits through adaptive reuse and reducing carbon footprint. Bob W, known for its sustainability efforts, will operate all the refurbished assets under the partnership.

Analyst QuickTake: The news builds on the company’s EUR 40 million (~USD 43 million) Series B round in February 2024 , with proceeds earmarked to extend the company’s reach within Europe and bolster operations in Copenhagen and Amsterdam. Other recent notable rounds from vacation rental providers include Blueground’s USD 45 million raise in February 2024 , as the company looked to expand into new markets.