Greystar Real Estate Partners
Greystar Real Estate Partners is an international real estate developer and manager based in the United States. As of 2023, Greystar had over $74 billion in gross assets under management,[2] and operated in 17 countries.[3]
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Type | Private company |
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Industry | Real estate |
Founded | 1993 |
Founder | Bob Faith |
Headquarters | Charleston, South Carolina, US |
Key people | Bob Faith, CEO and Chairman |
Services | Property development, Investment management, Property management |
Total assets | US$58.2 billion (2022) |
Number of employees | 23,000[1] |
Website | greystar |
![](../I/Roosevelt_Point_Apartments%252C_Phoenix%252C_Arizona.jpg.webp)
Greystar is the largest apartment manager in the United States in 2023,[4] with over 803,000 units/beds as of 2023.[5]
History
Founded in 1993 by chairman and CEO Bob Faith, and headquartered in Charleston, South Carolina, Greystar has over 22,000 employees[1] and 66 offices[6] representing 224 markets in the North America, South America, Europe, and the Asia-Pacific region.[7]
The company began operating in the UK in 2013.[8] In July 2017, Greystar announced it would acquire Monogram Residential Trust's 14,000-unit portfolio of 49 rental communities in ten states, for $3 billion.[9]
In June 2018, Greystar announced that it would acquire EdR, a manager of college housing communities in the US, for $4.6 billion.[10]
In 2019, the company was sued for violating consumer protection laws. In a Los Angeles County Superior Court filing, Greystar was charged with gathering extensive personal identifying information about its tenants without their knowledge or consent. At five Greystar-owned apartment buildings, the company collected information about its tenants' "character" and "general reputation."[11] In 2021, the firm's business model was alleged to be adding to Ireland's housing crisis.[12]
Greystar acquired the property management arm of Alliance Residential Co. in June 2020,[13] and in October 2020, Greystar acquired 45% of Thackeray Partners.[14] That December, Greystar partnered with Walker & Dunlop and Project Destined to create a paid internship program for students from diverse backgrounds in Durham, North Carolina.[15] Greystar and Project Destined expanded their partnership to students at South Carolina State University in 2022.[16]
In March 2021, Greystar, along with partners Ivanhoé Cambridge and Bouwinvest, announced a $1.1 billion joint venture to develop and acquire housing for students and young professionals in the greater Paris area[17] and a joint venture in multifamily housing in Chile.[18] Greystar acquired the rest of Thackeray Partners in May 2021[19][20] and partnered with the University of South Carolina to create a $210 million campus village.[21] Greystar also announced a partnership with CPP Investment Board to pursue life sciences development with a $74 million office and lab in Somerville, Massachusetts,[22] as well as a joint venture to develop and acquire single-family and multifamily rental communities.[23][24] In November, the company announced an additional $600 million investment in more student housing development, with partnerships with the University of Maryland, College Park and the University of Texas at Austin.[25] In December 2021, Greystar acquired Fizzy Living[26] and began expanding its presence in the industrial sector.[27]
Greystar secured roughly $883 million of investments in June 2021 to expand in cities across Europe.[28] In 2023, Greystar's new buildings included a 21-story building in Chicago[29] and a mixed-use complex in downtown Austin;[30] it also acquired the London site of the 2012 Summer Olympics for conversion to rental units.[31] Greystar also opened a modular construction factory in Knox, Pennsylvania.[32]
References
- Wilcox, Don. "Minto, Greystar JV acquires B.C. mall for major redev". Real Estate News EXchange.
- Norton, Ross. "Work begins on 2 million-square-foot industrial park in Spartanburg". Charleston Regional Business News. Retrieved August 12, 2023.
- Salmonsen, Mary. "Greystar reshapes design strategy around remote work boom". Multifamily Dive. Retrieved August 12, 2023.
- "NMHC 50 Largest Apartment Managers". Retrieved August 18, 2023.
- Norton, Ross. "Work begins on 2 million-square-foot industrial park in Spartanburg". Charleston Regional Business News. Retrieved August 12, 2023.
- Segall, Eli (November 15, 2022). "Real estate giant building 2 apartment projects in Las Vegas area". Las Vegas Review-Journal. Retrieved August 18, 2023.
- Mosher, Diana. "Behind Greystar's Global Expansion". Multi-Housing News.
- Aygoren, Sule (November 6, 2018). "Multifamily Influencer: Greystar Real Estate Partners". GlobeSt. Retrieved September 26, 2019.
- Mattioli, Dana (July 4, 2017). "Monogram Residential to Be Acquired by Greystar-Led Group". Wall Street Journal. ISSN 0099-9660. Retrieved October 21, 2018.
- Reuters Editorial. "Greystar to buy Education Realty in $4.6 billion deal". U.K. Retrieved October 21, 2018.
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has generic name (help) - Blake, Matthew (May 26, 2020). "Greystar probed tenants' "character," "reputation," "rental history," lawsuit claims". TRD. Los Angeles. Retrieved May 26, 2020.
- Correspondent, Harry McGee Political. "Investment funds are becoming bigger property players in Dublin suburbs". The Irish Times. Retrieved August 22, 2021.
- Isaacson, Greg (June 3, 2020). "Greystar Acquires Alliance's Property Management Arm". Multifamily Real Estate News. Retrieved October 11, 2022.
- "Greystar Buys Stake in Thackeray Partners". Multifamily Real Estate News. September 17, 2020. Retrieved June 14, 2022.
- Asbury, Kyla (December 28, 2020). "Partnership leads to internship program for students". Palmetto Business Daily. Retrieved October 12, 2022.
- "SCSU partners with Greystar for virtual internship program". The Times and Democrat. May 7, 2022. Retrieved October 27, 2022.
- Kalinoski, Gail (June 23, 2020). "Ivanhoé, Greystar, Bouwinvest Form $1.1B Venture". Multifamily Real Estate News. Retrieved June 14, 2022.
- "Greystar and Ivanhoé Cambridge form multifamily JV in Chile". Real Assets. Retrieved June 14, 2022.
- "Greystar closes on remaining 55% interest in Thackeray Partners". Institutional Real Estate, Inc. May 18, 2021. Retrieved October 11, 2022.
- Ou, Christie (December 1, 2021). "Greystar makes industrial push into new region". PERE. Retrieved October 11, 2022.
- Holdman, Jessica. "USC breaks ground on $210M student housing project — largest in school's history". Post and Courier. Retrieved June 14, 2022.
- Shaver, Les (July 9, 2021). "CPP Investments and Greystar Form Life Sciences Development JV". GlobeSt. Retrieved October 12, 2022.
- Bergeron, Paul (December 10, 2021). "Greystar, CPP Investments Partner on SFR Market". GlobeSt. Retrieved June 14, 2022.
- "CPP Investments and Greystar to invest $389m in U.S. multifamily developments". Institutional Real Estate, Inc. January 7, 2021. Retrieved June 14, 2022.
- McDermott, John (November 3, 2021). "Charleston's Greystar to invest $600M in student housing projects". Post and Courier. Retrieved June 14, 2022.
- Lowe, Richard (December 16, 2021). "ADIA and Greystar to invest £2.2bn in London housing". IPE Real Assets. Retrieved October 11, 2022.
- Ou, Christie (December 1, 2021). "Greystar makes industrial push into new region". PERE. Retrieved October 11, 2022.
- McDermott, John. "SC real estate giant Greystar doubles down on the Continent". Post and Courier. Retrieved June 14, 2022.
- Crawford, Jack. "One Six Six Completes Construction In Fulton Market". Chicago YIMBY.
- Rambin, James. "Gosh, That Building Sure is Blue". Austin Towers. Retrieved August 12, 2023.
- Kalyanaraman, Srividya. "Greystar Buys London Olympic Site for Rental Housing Project". Skift.
- Serlin, Christine (May 23, 2023). "Greystar Tackles Nation's Attainable Housing Need". MultiFamily Executive. Retrieved August 18, 2023.