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Kim Hart Dec 18
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Apartment landlord invests $200 million in Airbnb venture

Airbnb co-founder and CEO Brian Chesky. Photo: Jeff Chiu / AP

Brookfield Property Partners, one of the largest commercial real estate companies, has agreed to invest up to $200 million into Airbnb's home-sharing real estate venture, Airbnb announced Monday.

Why it matters: Even though multi-family housing makes up to half of Airbnb's listings in some major cities, apartment landlords have complained that their tenants' short-term rental activities have caused them to lose control over who is staying in their properties. Airbnb is trying to resolve some of that tension by enlisting Brookfield, which will get a 25% cut of the revenue from each apartment subleased on Airbnb.