Greystar
Greystar (Greystar Real Estate Partners) is a fully integrated rental housing real estate company.[1] that specializes in investment management, development and property management[2] of rental housing properties globally[3]. As of June 30, 2018, the company had $26 billion in gross assets under management including more than $9.7 billion of developments underway[4].
Founded in 1993 by Chairman and CEO Bob Faith and headquartered in Charleston, South Carolina, Greystar has over 12,000 employees globally[5] and 30+ offices throughout the United States, Europe, Latin America and Asia Pacific. The company oversees a global portfolio of more than 435,000 conventional rental units and student beds[6] in over 150 markets.
In July 2017, Greystar announced[7] it would acquire Monogram Residential Trust Inc.'s 14,000-unit portfolio of 49 high-end rental communities located in 10 states, in a transaction valued at $3 billion including debt considerations. As of 2018, the National Multifamily Housing Council's NMHC 50[8] listed Greystar as the largest apartment manager[9] and developer[10] in the U.S., and the company also ranked 16th on the organization's list of largest apartment owners[11], and sixth on the list of top builders[12].
On June 25, 2018, Greystar announced[13] that it would acquire EdR, one of the largest developers, owners and managers of collegiate housing communities in the U.S., in a transaction valued at approximately $4.6 billion including debt considerations. Prior to the acquisition, Greystar was "already the 10th-largest operator of [student housing] properties in the U.S., the third-biggest in the U.K. and the No. 1 operator in Spain," according to a report[14] by Bloomberg[15]
References[edit]
- ↑ http://www.costar.com/News/Article/Apartments-Serve-a-Basic-Need-Greystar-Founder-Bob-Faith-On-Why-Multifamily-Cycle-Still-has-Legs/186279
- ↑ https://www.bloomberg.com/profiles/companies/114208Z:US-greystar-real-estate-partners-llc
- ↑ https://www.reuters.com/article/us-monogram-m-a-greystar/greystar-fund-to-acquire-monogram-in-3-billion-deal-idUSKBN19P2BM
- ↑ https://www.prnewswire.com/news-releases/edr-to-be-acquired-by-greystar-led-fund-for-41-50-per-share-in-a-4-6-billion-transaction-300671366.html
- ↑ http://www.postandcourier.com/business/real_estate/jim-parker/nation-s-largest-apartment-manager-based-in-charleston-keeps-faith/article_b029213a-aeca-11e6-9e57-c7a5a12cea3b.html
- ↑ https://www.bloomberg.com/news/articles/2018-06-25/greystar-agrees-to-buy-student-housing-firm-edr-for-4-6-billion
- ↑ https://www.wsj.com/articles/monogram-residential-to-be-acquired-by-greystar-star-led-group-1499195323
- ↑ http://www.nmhc.org/The-NMHC-50
- ↑ https://www.nmhc.org/research-insight/the-nmhc-50/top-50-lists/2018-manager-list/
- ↑ https://www.nmhc.org/research-insight/the-nmhc-50/top-50-lists/2018-developer-list/
- ↑ https://www.nmhc.org/research-insight/the-nmhc-50/top-50-lists/2018-owner-list/
- ↑ https://www.nmhc.org/research-insight/the-nmhc-50/top-50-lists/2018-builders-list/
- ↑ https://uk.reuters.com/article/uk-edr-m-a-greystar/greystar-to-buy-education-realty-in-46-billion-deal-idUKKBN1JL0PS
- ↑ https://www.bloomberg.com/news/articles/2018-06-25/greystar-agrees-to-buy-student-housing-firm-edr-for-4-6-billion
- ↑ https://en.wikipedia.org/wiki/Bloomberg_News
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