When the operator and the owner share an address, the building gets the attention it deserves — and the members feel the difference at the front desk before they ever see it on a balance sheet.

From the Operating Notes, Vol. IV / 02

Markets we are actively underwriting.

These are categories of opportunity, not specific deals. Each represents a thesis we are testing in the field — a market type the parent company is willing to underwrite to.

Tertiary Midwest Metro · Underwriting
Diligence·Acquisition

Tertiary Midwest Metro

Smaller cities with a real professional base, undersupplied flex inventory, and a downtown core worth investing into. We underwrite to long-hold cash flow, not exit multiples.

Underwriting
Regional Flex Office · Diligence
Diligence·Conversion

Regional Flex Office Conversion

Existing single-tenant office buildings that no longer suit one occupier and are well-suited to a member-based reposition under in-house operations.

Diligence
Industrial-to-Office · Concept
Concept·Adaptive Reuse

Multi-tenant Industrial-to-Office

Light-industrial and warehouse buildings with the bones for a higher and better use as a multi-tenant flexible workspace, in markets where supply is constrained.

Concept

What the partnership program actually offers.

A short menu of structures, written plainly. Each one is a way to bring a building, an operator, or a balance sheet under the parent operating standard.

Capital Partner Long-hold equity for the acquisition or recapitalization of a flexible-workspace property, with the parent company taking operational responsibility post-close.
Operating Partner End-to-end management of an existing flex space — staffing, hospitality, technology, member services — under a single operating standard, on behalf of the owner.
Acquisition & Operate A combined structure where we acquire the asset and immediately bring it onto our operating platform, retaining a resident on-site team from day one.
Conversion & Reposition For underutilized office or adaptive-reuse buildings: capital plus operating playbook to reposition the asset as a member-based workspace.
Owner-Operator JV A joint venture with an existing regional operator — the operator stays in place, the parent contributes capital, brand, and operating depth.
Brokered Off-Market For brokers and intermediaries with a fit deal: a direct, decisive conversation with a principal who can underwrite, close, and operate without a third-party operator overlay.

The underwriting funnel, in figures.

A small, deliberate firm by design. The numbers below describe how the diligence pipeline is shaped on any given year — wide at the top, narrow at the bottom.

150+
Markets evaluated
annually
12
Active diligence
files
03
Final-stage
opportunities
01
Operating standard
across all

Operator, broker, or property owner with the right asset?

The partnership inquiry form takes a minute. Tell us about the building, the market, or the structure — a principal will respond.

Open the Partnership Inquiry