ALL INCLUSIVE COLIVING - URBANISM NEXT CONFERENCE
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ALL
INCLUSIVE
COLIVING.
URBANISM NEXT CONFERENCE
© 2019 Ollie
ollie
Confidential. Not for distribution. 1
The Aha Moment
Roommating, multiple residents per unit, is continuing to increase as a result of rising rents, the delayed onset of
marriage and the housing affordability crisis
The Roommating Solution
50% 46%
39% 40%
40% 35%
31% 32%
30% 28% 27%
25%
18%
20%
10%
0%
Seattle San Francisco Los Angeles New York City Boston
2005 Roommate Households 2016 Roommate Households
Households of working age adults aged 23-65. Source: Zillow, US Census
© 2019 Ollie Confidential. Not for distribution. 2
What is ollie?
Apartment Dormitory
Lease Terms & Zoning Density & Community
ollie
Hotel
Services & Amenities
© 2019 Ollie Confidential. Not for distribution. 3
Organizational Capabilities
Sourcing &
Underwriting
Architecture
& Design
Technology
Marketing (Ollie Labs)
& Leasing
Community
Project Engagement
Management
Facilities
Management
Hospitality
Management
© 2019 Ollie Confidential. Not for distribution. 4
Ollie: the coliving experience
Ollie Snapshot Coliving Overview Ollie's Key Differentiators
• Ollie is a coliving platform that unlocks a value • Coliving, or communal living, is a form of shared • Instituionalized platform with economies of scale
arbitrage to owners of institutional properties by living, which maximizes density to provide due to the size of projects Ollie targets
densifying studio apartments / shared suites and by affordable rents
• Full-suite of tech-enabled, community and
providing a bundle of premium hotel-like amenities
• Coliving pairs the elements of the multifamily, member-focused products assisting in creating a
to members
student housing and hotel sectors, while providing differentiated tech ecosystem
• Currently operating 3 communities (~630 beds), a community-live atmosphere
• Lead capture and marketing, household formation,
with 5 additional communities (~1,060 beds) coming
• Ollie believes coliving can curb the impact of home setup, hospitality management and community
online between 2019 and 2022
the housing affordability crisis while providing an engagement
• Asset-light business model, generating revenue enhanced tenant experience
• Legal / code-compliant disruptive design with Class
through a mix of upfront payments and predominantly
• Economic and social benefits of coliving coincide A amenities
long-term, predictable revenue streams
with Gen Z's preference for experiential spending
• Suite of proprietary technology solutions across the and the desire to belong to a community
customer journey that augment both the resident
and overall community experience
Living Bedvetter Social Provisions co. ALTA+ by Ollie
© 2019 Ollie Confidential. Not for distribution. 5
Ollie’s Mission: The Humanization of Housing
The Human Framework: Maslow’s Hierarchy of Needs
Core Values
Ollie’s Four
COLLECTIVE
Inclusiveness Wellness
ACTUALIZATION:
Ollie’s Value Proposition
Applying one’s expertise and talents in the
Discovery Sustainability
mentorship of others seeking self-actualization
Cost-Savings + Convenience SELF ACTUALIZATION: ACHIEVING ONE’S FULL POTENTIAL
Saving time & money allows more Services provided by Ollie’s hospitality management team combined with our architecture Self-fulfilling Needs
resources to invest in self-improvement
team’s efficient layouts address two obstacles to self actualization: time and money
Ollie’s Four C’s
Comfort
ESTEEM: PRESTIGE AND FEELING OF ACCOMPLISHMENT
Affordable access to luxury
amenities & hospitality services Our marketing and design teams position life at Ollie as aspirational, promoting a sense of dignity and esteem
Psychological Needs
Community
BELONGINGNESS: INTIMATE RELATIONSHIPS, FRIENDS
A built-in social network
of people & events Ollie’s community engagement team helps cultivate a sense of belonging by organizing communal events and experiences
SAFETY NEEDS: SECURITY AND SAFETY
Housing
Existing
Ollie’s facilities management team ensures buildings are well maintained and safe
Basic Needs
PHYSIOLOGICAL NEEDS: FOOD, WATER, SHELTER, REST
Our sourcing and underwriting team partners with best in class developers to ensure Ollie’s communities are in well constructed buildings
© 2019 Ollie Confidential. Not for distribution. 6
Understanding the humans we serve
Living
Space
Families with
Children
Luxury / Family
Recent
Travelers
Divorcees
Young
Couples /Empty
Professionals
Nesters
Entry Level
Workforce &
Grad Students
Interns
Digital
Nomad Business
Travelers Long Distance
Commuters
Privacy
m
e Ter
s y
Lea ibilit
x
Fle
© 2019 Ollie Confidential. Not for distribution. 7
Ollie as an operating system
e.g.
• Micro Studio
• Pseudio
• Ensuite Bathroom
• Coworking Space
Architecture +
Design
e.g.
• Nightly
• Weekly
• Monthly
• Annually
Duration
e.g.
• Housekeeping
• Babysitting
• Linen Service
• Towel Service
Hospitality
e.g.
• Happy Hours
• Workshops
• Fitness Classes
• Game Night
Community
© 2019 Ollie Confidential. Not for distribution. 8
Ollie’s Story
Timeline: Acceleration In Momentum
May 2006 August 2014 July 2017 December 2017 May 2018 July 2018 2020 2022
First Coliving After 400 developer Ollie at Baumhaus Series A Funding Launch of Ollie’s largest Series A Follow On 1 project expected 1 project expected
Experiment meetings, partnership (Pittsburgh) Opens; Round led by Aviva project, 422-bed ALTA+ Investment Closed to come online to come online
Posted on with Simon Baron Friends & Family Seed Investors and Texas by Ollie (NYC); >50% (Coral Gables, (Downtown, LA)
Craigslist Development formed Round Investment ERS leased in 3 mo & 30% Miami)
alongside first Ollie deal NOI premium
2006 2017 2018 2019+
March 2011 June 2016 September 2017 April 2018 June 2018 2019 2021
Chris and Andrew First Ollie Branded Launch of Ollie’s Bedvetter Roommate New Ollie HQ, 2 projects expected 2 projects expected
leave finance jobs Project opened, Ollie Community Based Events Matching Platform Ollie Social App, to come online to come online
to pursue Ollie full at Carmel Place Platform, Ollie Social Beta Site Launched and Bedvetter.com (Financial District, (South End, Boston
time (NYC) Launch NYC + Clinton Hill, + LoDo, Denver)
Brooklyn)
3 Billion Media Impressions
© 2019 Ollie Confidential. Not for distribution. 9
A virtuous cycle with First-to-scale benefits
Early Prototypes Tested Ollie Launches in NYC Ollie scales nationally
• FiDi 1-Bdrm Converted to 3-Bdrm • Ollie Debut: NYC's First "Official" Micro-Units (Kips Bay: 55 Units) • 3B+ Media Impressions
start Unlocks 50% Arbitrage • Proof of concept at scale: largest coliving building in the US • 8 Locations Secured
• Results Repeated (Harlem: 3 Units) (422 beds) at Alta+ by Ollie in Long Island City • 47+ Locations Under Evaluation or
• Repeated Again (UWS: 207 Units) • Rapid Lease-Up, Record Setting $/SF Rents Negotiation
First to scale:
a virtuous cycle
More
Developer
Confidence
Supply
of Ollie coliving Buildings
Developer
funded building
marketing
allowance
faster more Economies Network
know how:
leasing profitable of Scale: Best practices Effects:
+ iterating tech
oBrandl lgrowth
ie
furniture + vendor Community +
services platforms amenities
add-on
diversified Pricing
premium
renter pool power CHeaper better
services
Product Experience
Word of
mouth
More
Renter
Demand Confidence
to rent ollie units
© 2019 Ollie Confidential. Not for distribution. 10The Pipeline: Differentiation by scale
Now Open
335 E. 27th Street 2016
Carmel Place, Manhattan
5522 Baum Boulevard 2017
Friendship, Pittsburgh
29-22 Northern Boulevard 2018
Long Island City, Queens
Under Development
Financial District, Manhattan 2019
Coral Gables, Miami 2020
South End, Boston 2021
LoDo, Denver 2021
Downtown, Los Angeles 2022
Negotiating/Evaluating
~20 45+ ~16,000
metropolitan projects beds
areas
© 2019 Ollie Confidential. Not for distribution. 11Density: a Win-win formula
Ollie’s density-driven design lowers the cost of living while raising real estate returns
ollie
(all-inclusive: furnished, wifi, cable, housekeeping, towel & linen service,
bath amenities, social club membership, amenity network)
Average Unit Size: Conventional Studio Micro Studio Shared Micro Suite
500 sq. ft. 300 sq. ft. 230 sq. ft. per occupant
Ollie Member Wins: $2,875/month $2,450/month $1,725/month per occupant
($2,500 rent + $375 hidden living expenses) (15% savings) (40% savings)
Owner Wins: $98/sq. ft. $90/sq. ft.
$60/sq. ft.
(63% premium) (50% premium)
© 2019 Ollie Confidential. Not for distribution. 12The price / privacy Spectrum
Private Shared
Private Bedroom
Micro-Studio Pseudio Private Bedroom
with Ensuite Bath
Kitchen Private Shared Shared Shared
Entry Private Private Shared Shared
Bath Private Private Private Shared
15% 25% 33% 40%
savings compared to savings compared to savings compared to savings compared to
conventional studio conventional studio conventional studio conventional studio
© 2019 Ollie Confidential. Not for distribution. 13price / density spectrum
Low Density High Density
Conventional Conventional 1-Bedroom in Micro Studio 1-Bedroom in Micro Suite
1-Bedroom Studio Conventional Shared
+25% 0% -10% -15% -40%
premium compared to baseline savings compared to savings compared to savings compared to
conventional studio conventional studio conventional studio conventional studio
© 2019 Ollie Confidential. Not for distribution. 14price / Duration spectrum
Nightly Long Term Lease
150%
premium
100%
premium
25%
10%
premium
premium
5%
premium
baseline
Nightly Weekly 1 Month 3 Month 6 Month 12 Month
© 2019 Ollie Confidential. Not for distribution. 15Value to members
Ollie’s average net promoter score is 33, far exceeding the average apartment range
Cost Savings Convenience Comfort Community
Up to 40% Savings Hotel-Style Services Luxury Accommodations Values Based Experiences
Hidden
Expenses
Base Rent
Wifi
Recreation
Monthly Rent
Cable
Eating
Social Club
Commuting
Community Cleaning
Amenities s+
ore
Ch ands
Err
Fully Furnished
Work
Housekeeping
Conventional ollie
15 - 40% Savings vs • Move-in ready • High end finishes • In-building events curated by
Conventional Studios • Multifunctional furniture • In-building amenities live-in community manager
• Densification of units
• Smart home technology • Full access to amenity • Exclusive Ollie Social
• Elimination of hidden living
expenses • Premium WiFi and television network: pools, gyms, membership (out of building
• Bulk purchasing power • Hotel-style housekeeping coworking spaces & more experiences)
Net promoter scores survey customer satisfaction and gauge customer brand loyalty
© 2019 Ollie Confidential. Not for distribution. 16Compelling margins lead to an attractive return on investment
Potential for Ollie to capture additional NOI upside through different real estate ownership strategies or lease
structures vs existing management agreement model
~2.6x
50%
35%
125 bps
10%
Development Budget Rent Net Operating Income Yield on Cost Development Margin
CONVENTIONAL 16%
$600 psf $50 psf $33 psf 5.50%
MULTIFAMILY (assumes 4.75% exit cap)
OLLIE 1 $660 psf $75 psf $45 psf 6.75% 42%
(assumes 4.75% exit cap)
+60 psf +25 psf +12 psf +125 bps +2,600 bps
DELTA
+10% +50% +35% +23% +167%
Increased costs associated Increased unit density Ollie seeks to achieve Ollie seeks to achieve Ollie seeks to develop
with unit and FF&E yields significant increases ~20% ROI on incremental significantly enhanced significant profit margins
KEY TAKEAWAY in rent PSF development cost margins relative to relative to conventional
conventional multifamily multifamily
1. Represents illustrative assumptions in line with Ollie’s underwriting for projects in gateway cities in the U.S.
© 2019 Ollie Confidential. Not for distribution. 17Value to owners: enhanced Nav, Noi and absorption
Increased NOI, diversification of income-type and a differentiated lease-up process provide owners/developers with
a value-enhancing hedge to traditional multifamily projects
ALTA+ by Ollie (Long Island City, NY) Gables Station (Coral Gables, FL)
Units Beds Units Beds
Conventional 297 367 Conventional 358 598
Floors 17-42 64% 47% Towers 1+ 2 74% 60%
Ollie 169 422 Ollie 128 395
Floors 2-16 36% 53% Tower 3 26% 40%
Conventional ollie
Total 466 789 Total 486 993 Tower 1 + 2 Tower 3
Conventional
Floors 17 - 42
~30%
Higher NOI
>30% ollie
Floors 2 -16
Faster Absorption
+30MM
Enhanced NAV
Proven Ability to Create Value for Developer Partner... ...While De-Risking the Project for all Stakeholders
• 43-story residential tower developed by a JV between a New York • 1.3mm sf mixed-use development (3 towers, incl. 120k sf of retail space and 486
developer and a global private equity firm residential units) in Downtown Coral Gables
• Ollie designed and currently manages floors 2-16 • Ollie will design and manage one of the three residential towers
• On track for 14-month absorption period, 4 months ahead of • NP International, Gables Station developer, proactively asked Ollie to take on
underwriting estimate additional units in the development
• ~72% leased as of 1/31/2019 • Original plan did not call for an entire Ollie building
• Synonymous treatment / underwriting of conventional floor vs Ollie floor • Given strong lease-up stats at ALTA+, NP International saw the ability to de-risk the
NOI by lenders in Q3 2018 recapitalization project with the additional Ollie units
• Expected to come online in 2020
© 2019 Ollie Confidential. Not for distribution. 18Value to debt capital providers: downside protection The ability of Ollie floor plans to readily convert to conventional floor plans, including condominiums or conventional multifamily units, at a minimal cost gives comfort to lenders in their underlying security Ollie Floor Plan Conventional Floor Plan Benefits to Debt Capital Providers • Densification of floor plans lowers individual tenant credit risk as per tenant rent is lower than a conventional unit • Tenant credit underwriting standards still intact, ensuring proper income metrics for tenants • Proven ability to lease-up at a faster pace than conventional units, allowing for a more rapid property stabilization • Lenders are able to recover their capital commitments via early repayment or refinancing • Legal and code-compliant coliving designs and operating strategy, giving further confidence to lenders in their underlying security • Owners can quickly and cheaply react to changes in consumer preferences (i.e. migration to homeownership, interest in additional square footage), maintaining the quality of the lender’s underlying security • Masterfully designed units minimize deconversion time and cost, allowing for sustained cash flows and occupancy rates © 2019 Ollie Confidential. Not for distribution. 19
MARKET
OPPORTUNITY
© 2019 Ollie Confidential. Not for distribution. 20large and growing market supported by secular trends
Strong demand and lack of supply in major U.S. cities have driven high rents and created an affordability crisis, while
significant student debt and highly priced homes keep millenials in the rental market.
The Roommating Solution1 Lack of Housing Supply2
Roommating, multiple residents per unit, is continuing to increase as a result of • From 2000 to 2015, 23 states under produced ~7.3 million units creating a
rising rents, the delayed onset of marriage and the housing affordability crisis. supply and demand imbalance
• According to Freddie Mac, 66% of renters reported difficulty affording their
50% 46%
rent at some point over the last two years
40%
40%
39%
• In 2016, ~38.1 million households spent more than 30% of their incomes on
35%
31% 32% housing (i.e. cost burdened)
30% 28% 27%
25%
Home Price to Income Ratio3
20% 18%
• Median home prices in most metros are five times greater than incomes
10% • 78% of renters believe renting is more affordable than owning
• Home prices rose 1.3% during Q3 2018, up 6.3% from Q3 2017
0% • Current rising interest rate environment is decreasing the number of home buyers
Seattle San Francisco Los Angeles New York City Boston
due to impacted affordability
2005 Roommate Households 2016 Roommate Households
Student Debt3
A growing percentage of households face larger amounts of student loan debt
1. Households of working age adults aged 23 - 65. Source: Zillow, US Census.
2. Source: Freddie Mac, U.S. Bureau of Labor Statistics, Up for Growth National Coalition - Housing Underproduction in the U.S., April 2018, U.S. Census Bureau.
3. Source: JCHS tabulations of US Census Bureau, 1960 – 1990 Decennial Censuses, and 2000 – 2016 American Community Surveys.
© 2019 Ollie Confidential. Not for distribution. 21Growing and Visible pipeline
Pipeline bolsters confidence in near-term performance, as Ollie’s core consumer consists of 10mm individiuals in the
top 20 U.S. markets, with plans to expand internationally.
Term Sheet Definitive
In Review Negotiations Closed
Agreement
(~40) (~10) (~4)
(~5)
(sites)
In Review
Term Sheet
Deal Leads Architecture Underwriting Definitive Agreement Closed
Negotiations
• Several inbound • Floor plan • Market research/ • Further profitability • Groundbreaking • Lease-up +
site opportunities densification underwriting and returns analysis • Consummation of stabilization
received per week, • Zoning and code • Iterations with • Refinement of capital final financial terms • Property
only ~1/2 become studies to ensure the architecture requirement analyses management
prospects compliance team to optimize • Finalization • Potential
• Opportunities turned • Analysis of storage/ unit efficiency of permitting recaptialization
down are too small logistics needs and economic requirements
(bed/unit count) or in performance
the wrong market
© 2019 Ollie Confidential. Not for distribution. 22Institutional Mindshare with all key real estate stakeholders
OWNER’S + DEVELOPERS LENDERS DESIGNERS + ARCHITECTS
• Coliving model increases NOI through • Ollie floor plans readily convert to • Ollie’s in-house architecture team has built a
densification conventional floor plans, which has proven code-compliant, proprietary design that they
• Provides a diversified revenue stream with to give lenders comfort with valuing Ollie unit ensure will meet all standards across various
potential for varied leasing terms within a NOI at the same cap rate as conventional housing markets
building or complex unit NOI • Beginning in the idea generation phase of
• Preserves optionality with floor plans that • Diversification of both income stream a project, Ollie’s knowledge of efficient
easily convert to traditional multi family units and tenant type can lead to favorable architecture and space saving techniques
• Decreased time between lease-up and financial terms upon a refinancing, attraction are essential in creating unique, community-
stabilization, as Ollie units outpace established institutional grade investors oriented coliving spaces
conventional absorption rates • Shortened time between lease-up and • Furnishing of units increases design flexibility
• Property management know-how can be stabilization gives lenders additional comfort and reduces complications of tenant
utilized across conventional units (i.e. Ollie improvements/leasing commissions
Living)
© 2019 Ollie Confidential. Not for distribution. 23Ollie’s tech ecosystem: The Customer Journey
Ollie’s tech ecosystem facilitates the customer journey, eliminating pain points for a seamless experience throughout
Ollie.co
Lead Capture and
Marketing
o l l i e pod Roommate
Social Media and Matching
Podcast
Living Mobile App
Proprietary Tech
Integration
Furnishings +
Home Setup
Interior Design
Community Engagement
+ Events
HaaS
Supplies, Necessities + Hospitality + Property
Essentials Restock Management
© 2019 Ollie Confidential. Not for distribution. 24Ollie’s tech ecosystem: ollie.co Lead Capture and Marketing Ollie.co is the first step of the customer journey. The mobile responsive website serves as a lead generation tool for both prospective residents and potential developer/investor partners. The site informs users of the product through 360 VR videos and imagery, allowing the prospective resident the opportunity to view available units and the building’s amenity spaces. Providing such an immersive experience enables us to display our product, including its signature design aesthetic and impressive network of amenities, driving lead generation and faster lease-up for our properties. © 2019 Ollie Confidential. Not for distribution. 25
Ollie’s tech ecosystem: Bedvetter Household Formation By combining its intelligent matching algorithm with an intuitive interface and geo-targeting capabilities, Bedvetter streamlines the roommate selection and leasing process, putting household compatibility first. Users answer a series of questions that will help determine their compatibility with potential roommates who are seeking a similar housing situation. Users with available rooms/units can advertise properties on Bedvetter. Our first partner, StuyTown Property Management Services, has over 11,000 apartments in NYC. © 2019 Ollie Confidential. Not for distribution. 26
Ollie’s tech ecosystem: Ollie Provisions Co. Home Setup Ollie Provisions Co., our ecommerce platform offering lifestyle and wellness products and well-designed goods selected for their fine craftsmanship. Currently a responsive website, the online shop will be introduced into future properties in the form of “brick and mortar” kiosks, allowing residents to purchase goods in their building in realtime through their Ollie Living app. © 2019 Ollie Confidential. Not for distribution. 27
Ollie’s tech ecosystem: Ollie Living app
Hospitality Management
The Ollie Living app houses the integration of multiple 3rd party and in-house applications into an elegant and easy to use resident portal. The app operates on top of
a proprietary middleware platform that communicates with an array of different 3rd party tools such as property management, packages, housekeeping, payment, social
and more.
Home Activity Feed Housekeeping Services Payments Building Information
© 2019 Ollie Confidential. Not for distribution. 28Ollie’s tech ecosystem: Ollie Social
Community Engagement
Ollie Social, our social club, operates as both a mobile app and responsive website. The creation of the app allows members to easily browse and RSVP to upcoming
events, effectively organizing their social lives with the click of a button.
Home Events Confirm RSVP RSVPs & Bookmarks Co-spaces
© 2019 Ollie Confidential. Not for distribution. 29An asset Light model with a recurring revenue stream
Ollie captures fees related to a defined scope of activities, over a multi-year contract life
1. TECHNICAL SERVICES FEES 2. LEASING FEES
$2,000 - $2500 / bed upfront for Design $400 / bed upon successful lease signing
and Architecture Services
per community: ~$570k initial fee per community: ~$50k from initial lease-up
~$25k from turnover annually
3. MANAGEMENT FEES 4. PERFORMANCE FEES
Ongoing fee; 20% of revenue premiums above a
• Hospitality + Community Svcs 3% of rental revenue predetermined benchmark
• Facilities Management 3% of rental revenue
per community: ~$360k ($180k each) annually per community: ~$420k annually
Figures based on an illustrative Ollie deal with 244 beds, split between Micro Studio (33%) and Shared Micro Suite (67%) with upfront fees of $2000 and $2500, respectively, 50% of the leasing leads coming from
Ollie, a 50% turnover rate, and Ollie operating as the primary property manager of the asset. Performance fee is calculated as 20% of the revenue differential between the illustrative Ollie deal versus a conventional
multifamily deal, assuming 140 traditional units
© 2019 Ollie Confidential. Not for distribution. 30ALTA+ BY OLLIE
CASE STUDY
© 2019 Ollie Confidential. Not for distribution. 31Alta+ by Ollie overview
Located in the heart of Long Island City, ALTA+ by Ollie offers premier finishes and amenities at affordable prices
August 2014 May 2017 January 2019
Inception of partnership Ollie publicly announces ALTA+ reaches 70%
with Simon Baron plans for largest newly occupancy
Development for first constructed coliving
Ollie deal community in the U.S.
May 2016 April 2018 June 2019
Construction begins Leasing begins Based on current lease-up
on ALTA+ at ALTA+ rates, projected full occupancy
© 2019 Ollie Confidential. Not for distribution. 32Alta+ by Ollie overview
Building Overview Transaction Overview
Leasing commenced April 15, 2018
• 43-story residential tower developed by a JV between a New York
developer and a global private equity firm
Units Beds
• Ollie designed and manages floors 2 through 16
Conventional 297 367 • ALTA+ is one of the largest coliving developments in the world
Floors 17-42 64% 47%
Ollie 169 422 Operating Performance
Floors 2-16 36% 53%
• As of 1/31/2019, on track for 14-month lease-up period, 4 months
ahead of underwriting
Total 466 789
• Since opening in May 2018, leased ~72% of rentable coliving area
representing 297 out of 422 Ollie beds, and 122 out of 169 Ollie
Conventional Apartments
Floors 17 - 42 • ~45% premium in net rent per square foot compared to units in the
building
• Translated to a 30% increase in NOI per square foot, net of
incremental Ollie expenses and property management fees
ollie Positive, Lasting Effects for Ollie
Floors 2 -16
• Increased brand awareness, resulting from significant media coverage of
both ALTA+ and Ollie
• Meaningful increase in new opportunities, as inbound site opportunities
are positively correlated with media coverage
• Ollie solidified its reputation as a coliving partner of choice to institutional
developers
• Gable Station developer, NP International, proactively asked Ollie
~30% >30% +30MM to take on additional units in the new development as a result of
ALTA+’s success
Higher NOI Faster Enhanced NAV • Precedent transaction for lenders, giving Ollie access to additional pools
Absorption of capital for future projects
© 2019 Ollie Confidential. Not for distribution. 33Alta+ by Ollie overview
ALTA+ by Ollie experienced following Ollie’s Bedvetter accelerated absorption the launch of Ollie’s Bedvetter
roommate matching services, surpassing conventional unit leasing
% Absorption
80%
70%
60%
50%
40%
Launch of
Bedvetter
30%
20%
10%
0%
April 10 2018 May 30 2018 July 19 2018 Sept 7 2018 Oct 27 2018 Dec 16 2018 Feb 4 2019 Mar 26 2019 May 15 2019
Ollie Conventional
© 2019 Ollie Confidential. Not for distribution. 34Financial Performance
Using ALTA+ by Ollie as a case study to show value creation for Ollie’s developer partners
ALTA+ by Ollie Snapshot
Units: 169 46% +$246
Bedrooms: 422 psf
Square Footage: 117,343
30%
$808
psf
7.5%
Development Revenue Operating Income Asset
Budget (Net of Fees) Value
Conventional Incremental Ollie
Net Rent PSF NOI PSF Asset Value PSF*
Expenses PSF Expenses and Fees
Conventional Units ~$48 $12 - $36 $808
(adjusted for floor height)
Ollie Units $70 $11 $11 $47 $1,054
$ Increase ~$22 - $11 =
% Increase ~46% - ~30% ~30%
Total Asset Value Increased by ~$29MM
*Using a cap rate of 4.5%
© 2019 Ollie Confidential. Not for distribution. 35APPENDIX © 2019 Ollie Confidential. Not for distribution. 36
Ollie can seamlessly add colodging and corporate housing offerings
LoDo Property Significant Overlap with Ollie Capabilities
Units: 89 Apartment
Square Footage: 57,278 Functionality: en suite
Est. Online: 2020
kitchen and living room
• New construction, 12-story apart-hotel
in Downtown Denver developed by Air BnB Hotel
Local design; price ollie In-unit services and
Nichols Partnership and designed by point & duration amenities
local architect SA+R in collaboration
with Ollie.
• Site will offer flexible duration, nightly
rates, designed to provide a competitve Social Club
value for Ollie members, as well as Events and
community spaces
corporate guests. Exportable Technology
Scalability + Convenience
Value to Ollie Members Value to Corporate Guests
= $250 / night $4,838
= $220 / night
+Hotel Surcharge
$175 / night $3,875
$20 / day facility fee + Surcharge all inclusive rate
$15 / day high-speed
$70 cleaning fee $ / Night $ / Month
wifi surcharge = 42% savings
Conv. Hotel Weeknights
Nightly Costs
$215 $4,838
Average Daily Rate Wifi Room only
Happy hours + events Ollie
Monthly
$150 / night Average Daily Rate Colodging $140 $4,200
Commitment
En-suite kitchen Bulk Rate
$150 / night Weekend
High-end design
Revenue -$325
Curated amenities Credit
Housekeeping NET COST / MICRO
$3,875
SUITE
Conventional Hotel Airbnb ollie Conventional Hotel Room Net Cost / Micro Suite
© 2019 Ollie Confidential. Not for distribution. 37THANK YOU
Christopher Bledsoe l Co-Founder + CEO
Direct: (347)-719-2442 l Email: chris@ollie.co
450 Park Avenue South 5th Floor New York NY 10016
ollie.co
© 2019 Ollie Confidential. Not for distribution. 38You can also read
