MIAMI, Florida — REEF announced today a $700 million growth equity funding led by Mubadala Investment Company’s financial investment arm, Mubadala Capital. SoftBank Vision Fund, funds managed by Oaktree Capital Management, L.P., UBS Asset Management and Target Global also participated in the round. Additionally, and separately, REEF and Oaktree established Neighborhood Property Group, a $300 million joint infrastructure vehicle to acquire strategic real estate assets. Neighborhood Property Group is expected to make long-term investments in neighborhood infrastructure in order to provide REEF’s innovative proximity services to communities across the U.S.
REEF’s mission is to connect the world to your block. REEF is transforming its distributed real estate network of more than 4,500 parking lots and garages into Neighborhood Hubs, leveraging the power of proximity to connect people and neighborhoods to locally curated goods, services, and experiences.
With more people living in cities than ever before, and the challenges that arise from modern consumption patterns, REEF sees an opportunity to reimagine more sustainable and neighborhood-centric economies.
REEF is leveraging its distributed real estate network and technology to create a proximity-as-a-service platform. Whether a growing local business, or a global brand, REEF provides the platform entrepreneurs and businesses need to deliver their products locally and at scale.