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.

Details: Niido, which is partnering with Airbnb to develop the multi-family housing, will build as many as six apartment complexes in Florida cities where tenants can rent their units through Airbnb for nearly half the year. Silverpeak Real Estate Partners is also committing $20 million to the project.

Millennial factor: Millennials make up a large share of renters, and they are more likely to embrace home-sharing than other cohorts. A survey by the National Multifamily Housing Council and Kingsley Associates found that 49% of renters under the age of 25 are interested in generating extra income through home-sharing.

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Senate advances Amy Coney Barrett nomination, setting up final confirmation vote

Photo: Xinhua/Ting Shen via Getty Images

The Senate voted 51-48 on Sunday to advance the Supreme Court nomination of Judge Amy Coney Barrett, setting up a final confirmation vote for Monday.

Why it matters: It's now virtually inevitable that the Senate will vote to confirm President Trump's third Supreme Court nominee before the election, which is just nine days away.

Felix Salmon, author of Capital
2 hours ago - Economy & Business

Wall Street is living up to its bad reputation

Illustration: Sarah Grillo/Axios

Recent headlines will have you convinced that Wall Street is hell-bent on living up to all of its stereotypes.

Driving the news: Goldman Sachs is the biggest and the boldest, paying more than $5 billion in fines in the wake of the 1MDB scandal, in which billions were stolen from the people of Malaysia.

2 hours ago - Health

Ex-FDA chief: Pence campaigning after COVID exposure puts others at risk

Former FDA commissioner Scott Gottlieb said "the short answer is yes" when asked whether Vice President Mike Pence is putting others at risk by continuing to campaign after several aides tested positive for COVID-19, stressing that the White House needs to be "very explicit about the risks that they're taking."

Why it matters: The New York Times reports that at least five members of Pence's inner circle, including his chief of staff Marc Short and outside adviser Marty Obst, have tested positive for the virus. Pence tested negative on Sunday morning, according to the VP's office, and he'll continue to travel for the final stretch of the 2020 campaign.