Bob Faith

Last updated
Bob Faith
Bob Faith.jpg
Born
Robert Alan Faith

1963or1964(age 60–61) [1]
Education University of Oklahoma (BS)
Harvard University (MBA)
TitleFounder, Chairman and CEO of Greystar Real Estate Partners
SpouseMuffie Faith
Children3

Robert Alan Faith (born 1963/1964) is an American businessman, and the founder, chairman and chief executive officer (CEO) of Greystar Real Estate Partners. [2]

Contents

Early life

Faith grew up in Oklahoma, and earned a bachelor's degree in petroleum engineering from the University of Oklahoma, [3] intending to pursue a career in the oil industry as his father had. While in college, Faith was a member of Delta Upsilon fraternity, then located at 603 West Brooks in Norman. When a recession made petroleum engineer jobs less available upon graduation, Faith opted instead to get an MBA from Harvard University, [4] graduating in 1986. [5]

Career

Faith started his career at the Trammell Crow Company, a real estate development firm [3] where he eventually became a partner. [6] In 1991, he co-founded Starwood Capital Group with Barry Sternlicht, [4] a classmate from Harvard. The company focused on acquiring foreclosed multifamily properties in the aftermath of the savings and loan crisis. [1]

In 1993, Faith founded Greystar in Houston, Texas. [7] [1] While CEO of Greystar, Faith served as Secretary of Commerce for the State of South Carolina from 2002 to 2006. [8] During his tenure, Faith reorganized the department's 19-division structure into four departments. [9] In 1996, he co-founded Homegate Hospitality, a developer of extended-stay hotels, with John Kratzer, a former colleague from Trammell Crow. The company was acquired the next year. [10] Faith moved both his residence and Greystar’s headquarters to Charleston, South Carolina, in 1998. [4] Under Faith's leadership, Greystar acquired Education Realty Trust in 2018 for $4.6 billion, [11] making the company the second largest student housing provider in the United States. [12] Other major acquisitions during Faith's tenure include the property management arm of Alliance Residential Co. in June 2020, [13] Thackeray Partners in May 2021, [14] [15] and Fizzy Living in December 2021. [16] Faith is also expanding the business beyond multifamily rental properties to sectors including life sciences, [17] purpose-built single-family rentals, [18] and industrial. [15] As of November 2021, Greystar is the largest operator of apartments in the United States, with $45.1 billion of assets under management. [19]

As of 2005, Faith was a member of the Urban Land Institute and the National Multifamily Housing Council. [9] In 2020, Faith was nominated to the real estate group of the Great American Economic Revival Industry Groups, [20] a bipartisan panel convened by President Donald Trump during the COVID-19 pandemic. [21]

In 2018, Faith appeared on the Observer list of the 59 most powerful people in residential real estate. [22]

In 2022, Faith ranked #32 on the Commercial Observer Power 100 list of commercial real estate's most powerful people. [23] He ranked #10 in 2023 [24] and #6 in 2024. [25]

Personal life

Faith resides in Charleston, South Carolina, with his family. [1] He is married to interior designer Muffie Faith, and they have three children. [26]

Related Research Articles

<span class="mw-page-title-main">Cushman & Wakefield</span> Global commercial real estate services firm

Cushman & Wakefield Inc. is an American global commercial real estate services firm. The company's corporate headquarters is located in Chicago, Illinois.

Equity Residential is a United States–based publicly traded real estate investment trust that invests in apartments.

<span class="mw-page-title-main">JLL (company)</span> Real estate consultancy firm

Jones Lang LaSalle Incorporated (JLL) is a global real estate services company, founded in the United Kingdom with offices in 80 countries. The company also provides investment management services worldwide, including services to institutional and retail investors, and to high-net-worth individuals, as well as technology products through JLL Technologies, and VC investments via its PropTech fund, JLL Spark. The company is ranked 193 on the Fortune 500.

Newmark Group Inc. is a commercial real estate advisory and services firm headquartered in New York City. It operates as Newmark, and is listed on the NASDAQ Global Select Market under the symbol "NMRK".

<span class="mw-page-title-main">Starwood Capital Group</span> American private equity and investment firm

Starwood Capital Group is an investment firm headquartered in Miami Beach, Florida. It is managed by Barry Sternlicht. It was co-founded by Sternlicht and Robert Faith in 1991. In 1993, Faith left Starwood to found Greystar Real Estate Partners.

<span class="mw-page-title-main">Crow Holdings</span> American asset management company

Crow Holdings is a privately owned real estate investment and development firm based in Dallas, Texas, US, which has been operating since 1948. The firm provides investment and portfolio management as well as multifamily, industrial, and retail property development through its respective platforms, Crow Holdings Capital and Crow Holdings Development. Originally founded by Trammell Crow, the firm was expanded under the direction of his son, Harlan Crow, and current CEO Michael Levy. As of 2018, the company employed 550 people through its operating businesses in 19 locations throughout the US. As of 2024, Crow Holdings managed $33 billion.

Joseph Moinian is an American investor, real estate developer, and philanthropist. He is the founder and CEO of The Moinian Group, one of the largest privately held real-estate firms in the United States. He owns and operates more than $10 billion of real estate across the country.

Starlight Investments is a privately-held Canadian real estate investment and asset management company based in Toronto, Ontario. As of 2024, Starlight owns 70,000 multi-family units, 8 million square feet of commercial space, and over 600 properties across Canada. They are the largest private landlord in Canada.

<span class="mw-page-title-main">Veris Residential</span> American real estate investment trust

Veris Residential, Inc. is a real estate investment trust headquartered in Jersey City, New Jersey, investing primarily in multifamily real estate in New Jersey and Boston.

<span class="mw-page-title-main">CoStar Group</span> American technology company

CoStar Group, Inc. is an American provider of information, analytics, and marketing services to the commercial property industry in North America and Europe. Founded in 1987 by Andrew C. Florance and based in Washington, D.C., the company has grown to include the online database CoStar and several online marketplaces, including Apartments.com and Homes.com.

RXR Realty is a vertically integrated real estate and infrastructure owner, investor, operator, and developer headquartered in New York City. The firm’s portfolio of commercial, residential, multifamily, infrastructure, and logistics projects includes 91 commercial real estate properties and investments held across the country as of 2023. RXR is a privately held company that employs around 450 professionals with experience in operations, real estate development, construction, investment, and asset management.

Brookfield Property Partners L.P., headquartered in Hamilton, Bermuda, owns office buildings and shopping centers / shopping malls as well as minority limited partner interests in investment funds sponsored by affiliates that invest in other types of commercial property.

<span class="mw-page-title-main">Greystar</span> Real estate investment firm

Greystar Real Estate Partners is an international real estate developer and manager based in the United States. As of 2023, Greystar had over $76 billion in gross assets under management, and operated in 17 countries.

<span class="mw-page-title-main">Southern Management Companies</span> American property management company

Southern Management Companies is a privately owned property management company in the Mid-Atlantic United States.

Walker & Dunlop is a real estate finance and advisory services firm in the United States.

<span class="mw-page-title-main">Ari Rastegar</span> American real estate investor

Ari Rastegar is an American real estate investor and CEO of Rastegar Property Company in Austin, Texas.

LaTerra Development is a Los Angeles based real estate development and investment company. The firm develops and invests in real estate projects mainly in and around California.

Cain International is a privately held real estate investment firm headquartered in London.

<span class="mw-page-title-main">Kingston South End</span> Residential building in Charlotte, North Carolina

Kingston South End is a 24-story transit oriented residential building under construction in South End Charlotte, North Carolina. Upon completion it will be 318 feet (97 m)

Rastegar Property Company is an American real estate investment firm headquartered in Austin, Texas. It is engaged in the acquisition, development, and management of commercial and residential properties throughout the United States.

References

  1. 1 2 3 4 "Greystar's Bob Faith on His Global Multifamily Empire". commercialobserver.com. 6 June 2018. Retrieved 18 October 2018.
  2. ↑ "Company Overview of Greystar Real Estate Partners, LLC". Bloomberg LP. Retrieved 18 October 2018.
  3. 1 2 "Robert Faith of Greystar Gives Keynote at Cornell Real Estate Conference". cornell.edu. 27 October 2015. Retrieved 18 October 2018.
  4. 1 2 3 Rosta, Paul (18 October 2012). "Bob Faith's Mission to Buy, Build, Manage Drives Greystar". Commercial Property Executive. Retrieved 7 March 2020.
  5. ↑ "My Story: Bob Faith". Bisnow. 13 March 2013. Retrieved 7 March 2020.
  6. ↑ Broffman, Wendy (1 August 2014). "Game changer". Yield Pro. Retrieved 8 March 2020.
  7. ↑ "5 Most Powerful in Multifamily". www.multifamilyexecutive.com. Archived from the original on 2014-11-10. Retrieved 2020-04-18.
  8. ↑ "A history of Faith". Multihousing Pro Magazine. Retrieved 2018-10-22.
  9. 1 2 "Bob Faith". Trade & Industry Development. 30 June 2005. Retrieved 8 March 2020.
  10. ↑ Ballon, Marc (1 November 1997). "Hotel Chain Bags Wealthy Acquirer". Inc. Retrieved 8 March 2020.
  11. ↑ Banister, Jon (20 November 2018). "Greystar CEO Bob Faith On $4.6B EdR Acquisition And His Outlook For Multifamily" . Bisnow. Retrieved 20 March 2021.
  12. ↑ September 21, John Jordan (21 September 2018). "Greystar Completes $4.6B Purchase of EdR". GlobeSt. Retrieved 20 March 2021.{{cite news}}: CS1 maint: numeric names: authors list (link)
  13. ↑ Isaacson, Greg (3 June 2020). "Greystar Acquires Alliance's Property Management Arm". Multifamily Real Estate News. Retrieved 11 October 2022.
  14. ↑ "Greystar closes on remaining 55% interest in Thackeray Partners | News". Institutional Real Estate, Inc. 18 May 2021. Retrieved 11 October 2022.
  15. 1 2 Ou, Christie (1 December 2021). "Greystar makes industrial push into new region". PERE. Retrieved 11 October 2022.
  16. ↑ Lowe, Richard (16 December 2021). "ADIA and Greystar to invest £2.2bn in London housing". IPE Real Assets. Retrieved 11 October 2022.
  17. ↑ Shaver, Les (9 July 2021). "CPP Investments and Greystar Form Life Sciences Development JV". GlobeSt. Retrieved 11 October 2022.
  18. ↑ Campbell, Kyle (8 December 2021). "CPP commits $840m to single-family rental JV with Greystar". PERE. Retrieved 11 October 2022.
  19. ↑ Pollack, Lynn (10 November 2021). "Greystar Sells Flagship $3.6B Multifamily Fund to Ivanhoe Cambridge". GlobeSt. Retrieved 11 October 2022.
  20. ↑ "President Donald J. Trump Announces Great American Economic Revival Industry Groups". Trump White House Archives. Trump White House. Retrieved 22 April 2023.
  21. ↑ "Charleston CEO part of Trump's economic revival group". Post and Courier. Charleston. April 27, 2020. Retrieved April 27, 2020.
  22. ↑ Daisley, Margaret; Rogers, Alison (28 September 2018). "2018's Most Powerful People in Residential Real Estate". Observer. Retrieved 11 October 2022.
  23. ↑ Coen, Andrew (16 May 2022). "Bob Faith". Commercial Observer. Retrieved 11 October 2022.
  24. ↑ Acitelli, Tom (10 May 2024). "Bob Faith - Power 100 2023". Commercial Observer. Retrieved 8 September 2024.
  25. ↑ Acitelli, Tom (10 May 2024). "Bob Faith - Power 100 2024". Commercial Observer. Retrieved 8 September 2024.
  26. ↑ Hunt, Stephanie (June 2008). "Old Village: Interior Designer Muffie Faith's Historic Manse". Charleston Magazine. Retrieved 20 March 2021.


This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.