Greystar sells flagship U.S. multifamily value-add fund for approximately $3.6 billion
November 9, 2021
Greystar Real Estate Partners LLC, a global leader in the investment, development, and management of high-quality rental housing, has agreed to sell a 30-property, U.S. multifamily portfolio for ~$3.6 billion.
The fund was formed as part of Greystar’s flagship U.S. rental housing value-add fund series. The fund focuses on acquiring well-located, institutional quality apartment communities in target markets throughout the U.S. that present significant upside potential through operational efficiency and capital improvements. Since its launch, the fund series raised $5 billion. In November 2019, Greystar announced the final close of the most recent fund in the series, a $2 billion vehicle, which is now fully invested. The fund series includes a diverse group of global institutional investors from North America, Continental Europe, and Asia-Pacific.
Eastdil Secured served as the exclusive financial advisor to Greystar. The transaction is the result of a robust and highly competitive process, with a broad set of leading institutional investors participating in a multi-round bidding process.
About Greystar
Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. Headquartered in Charleston, South Carolina, Greystar manages and operates an estimated $220 billion of real estate in more than 210 markets globally including offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages more than 748,000 units/beds, and has a robust institutional investment management platform with approximately $45.1 billion of assets under management, including over $21.3 billion of assets under development. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.
