Wander.com, a platform that allows users to book smart homes, has announced the closing of a US$100 million credit facility with Zürich-based Credit Suisse. With this capital infusion, Wander will invest in expanding its network of smart vacation homes from coast-to-coast to more than double the size of their portfolio in the first half of 2023. In addition to the facility for expansion, Wander announced the launch of Wander Atlas, the industry's first and only vacation rental REIT. Atlas transforms Wander's customers into partial property owners by enabling them to own a piece of the inspiring network of homes while unlocking the potential to earn high yield-passive income and diversifying their portfolio. Both the Atlas REIT and US$100 million credit facility from Credit Suisse enable the 18-month-old company to scale efficiently.
Latham & Watkins LLP represents Wander in both the credit facility and launch of the Wander Atlas REIT. The finance team was led by New York partner Loren Finegold, with associates David Siegel, Benjamin Gelfand, Jacob Watts, and Ananya Hindupur. Advice was also provided on corporate matters by Austin partner Scott Craig, with associates Clayton Cromer, Omar Ammash and Autumn Schmidt; on real estate matters by New York counsel Shira Bressler; on tax matters by Los Angeles partner Eric Cho, with associate Kathryn Harrington; and on ERISA matters by Los Angeles counsel Aryeh Zuber. The REITs team was led by Orange County partner Bill Cernius, Century City partner Pardis Zomorodi, Austin partner Scott Craig, and Orange County counsel David Kuiper, with associates Mark Semotiuk, Clayton Cromer, Michael Nieberg, Soheil Ebadat, Katherine Medler, Arash Lotfi, and Manu Vadlamudi.