European short-term property management company Altido has been acquired by cohousing company DoveVivo.

The transaction, which involves Altido’s management team reinvesting capital in DoveVivo, will create what the companies say is Europe’s largest residential management platform with more than 2,500 properties and apartments under management in 40 cities. across Italy, Spain, France, Portland, Scotland and the UK.

Altido, born in 2019 from the merger of four property management companies, has more than 1,000 short-let properties and 700 pop-up hotel beds under management in 20 cities.

DoveVivo makes more than 10,000 beds available to students and young professionals looking for medium and long-term co-living stays.

Together, the new group will target customers beyond those seeking cohabitation to include multifamily, professionals and businesses.

The transaction will also integrate medium and long-term accommodation solutions with a short-term solution for business and leisure travellers.

Valerio Fonseca, Founder and CEO of DoveVivo said: “We are very proud of this industrial and strategic operation in which both teams, DoveVivo and Altido, believed and worked hard in 2021.

“The combination of strong experience and highly complementary know-how in the housing sector will enable us to become the benchmark player capable of supporting the management of the residential product and the colossal investments planned in this sector of the housing and short-term rental.