2150 has led a $48 million equity and debt funding round in Nabr, a direct-to-consumer housing startup, focused on sustainable living.
A portion of the proceeds raised from the sustainability and urban technology-focused VC fund are being used to acquire three development sites in Downtown San Jose’s SoFA District. This land will feature 500 for-sale residential units, which includes SoFA One, in addition to two other buildings: SoFA Two and SoFA Three.
Nabr’s goal is to put more people on a path to owning a high-quality, environmentally friendly home in the city. While its first building, SoFA One, will consist of only 140 units, the company currently has nearly 4,000 people on its Silicon Valley waitlist. The outsized demand indicates opportunity for Nabr’s expansion across the Bay Area, hence the acquisition of additional development sites.
