Roofstock, a leading platform for investing in and managing single-family rental (SFR) homes, announced its participation in the investor consortium that took Vacasa, Inc. private on May 1. As part of the transaction, Roofstock secured an ownership stake in Casago, the merged entity, and will officially enter the short-term rental management business by launching Casago franchises in three travel destinations: Historic Charleston, South Carolina Sunny Tampa/St. Petersburg, Florida Scenic Rockaway Beach/Lincoln City/Pacific City on the Oregon Coast. Officials said the strategic expansion reflects Roofstock’s commitment to delivering a unified platform of proprietary data and institutional-grade tools for real estate investors of all sizes to research, acquire, manage, and optimize rental properties—whether long-term or short-term. “Today is an exciting day at Roofstock and for our industry. Historically, we have focused on providing end-to-end real estate investment services for the SFR industry across the ownership lifecycle; from buying to managing to selling. We are excited to extend this suite of products and tools to the massive short-term rental sector, and we couldn’t be more excited to partner with Casago,” said Gary Beasley, co-founder and CEO of Roofstock. By partnering with Casago’s franchise network, officials said Roofstock will extend its Rental Genome powered tools, such as automated underwriting, home mapping and real-time portfolio intelligence, as well as Stessa, its asset management and accounting software, to the short-term rental sector. “Our initial markets of Tampa, Charleston, and the Oregon Coast each enjoy strong tourism dynamics and robust demand. We look forward to working with short-term rental investors to help them optimize the performance of their homes while providing exceptional experiences to our guests,” said Doug Brien, president of Roofstock and co-founder of Mynd, which merged with Roofstock last year. Roofstock appointed Craig Rashkow to lead its short-term rental division. Rashkow rings deep experience across short-term and long-term rental operations, having held leadership roles at several innovative real estate and hospitality companies, including Sonder and Summer. Debt financing to support Roofstock’s investment in this transaction was provided by Coromandel Capital. |