![]() | |
Company type | Private company |
---|---|
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 |
AUM | US$76 billion (2023) [1] |
Number of employees | 23,000 [2] |
Website | greystar |
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, [1] and operated in 17 countries. [3]
Per NMHC report, Greystar was the largest apartment manager in the United States, with over 726,826 units/beds as of 2023. [4] [1]
Greystar Corporation has been a plaintiff in numerous lawsuits mostly filed by its tenants.
Founded in 1993 by chairman and CEO Bob Faith, and headquartered in Charleston, South Carolina, Greystar has over 22,000 employees [2] and 66 offices [5] representing 224 markets in the North America, South America, Europe, and the Asia-Pacific region. [6]
The company began operating in the UK in 2013. [7] 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. [8]
In June 2018, Greystar announced that it would acquire EdR, a manager of college housing communities in the US, for $4.6 billion. [9]
Greystar acquired the property management arm of Alliance Residential Co. in June 2020, [10] and in October 2020, Greystar acquired 45% of Thackeray Partners. [11] 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. [12] Greystar and Project Destined expanded their partnership to students at South Carolina State University in 2022. [13]
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 [14] and a joint venture in multifamily housing in Chile. [15] Greystar acquired the rest of Thackeray Partners in May 2021 [16] [17] and partnered with the University of South Carolina to create a $210 million campus village. [18] Greystar also announced a partnership with CPP Investment Board to pursue life sciences development with a $74 million office and lab in Somerville, Massachusetts, [19] as well as a joint venture to develop and acquire single-family and multifamily rental communities. [20] [21] 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. [22] In December 2021, Greystar acquired Fizzy Living [23] and began expanding its presence in the industrial sector. [17]
Greystar secured roughly $883 million of investments in June 2021 to expand in cities across Europe. [24] In 2023, Greystar's new buildings included a 21-story building in Chicago [25] and a mixed-use complex in downtown Austin; [26] it also acquired the London site of the 2012 Summer Olympics for conversion to rental units. [27] Greystar also opened a modular construction factory in Knox, Pennsylvania. [28] Greystar's modular apartment venture, Modern Living Solutions, [29] broke ground on its first multifamily project, in Coraopolis, Pennsylvania, in August 2023. [30] The company broke ground on Summerwell Sunterra, a build-to-rent community in the Houston area, in June 2023. [31] As of September 2023, Greystar has acquired or developed 12 communities under its Summerwell brand focused on single-family rentals. [32] In April 2024, the National Multifamily Housing Council, an industry trade group, announced that Greystar was the United States' largest apartment owner after adding over 10,000 units to its portfolio in 2023. [33]
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." [34] In 2021, the firm's business model was alleged to be adding to Ireland's housing crisis. [35]
In 2022, a tenant at a Greystar property in Charlotte, North Carolina filed a lawsuit against the company, alleging that Greystar failed to perform necessary building maintenance. [36] In October 2022, Greystar was a co-defendant in a lawsuit filed against the property management software company RealPage. The suit alleged that RealPage colluded with Greystar, among other property management companies, to fix rent prices at those companies' properties. [37]
On January 9, 2024, a tenant at a Greystar property in Lakewood, Colorado sued Greystar over alleged junk fees the company added to her monthly rent. [38] That same month, Greystar charged a Loveland, Colorado family $4,140 in lease-breaking penalty fees following the death of the lease's primary signer. [39]
David Lichtenstein is an American billionaire, entrepreneur, and real estate investor. He is the founder and CEO of The Lightstone Group, which he founded in 1988.
Equity Residential is a United States-based publicly traded real estate investment trust that invests in apartments.
Related Companies, L.P. is an American real estate firm with headquarters in New York City, and with offices around the country including in West Palm Beach, Chicago, Boston, Los Angeles, San Francisco, as well as in London. Related developed the Hudson Yards Redevelopment Project, which comprises 28 acres (0.11 km2) in Manhattan's Chelsea and Hell's Kitchen neighborhoods. Related is also the largest private owner of affordable housing in the United States.
Camden Property Trust is a publicly-traded real estate investment trust that invests in apartments in the United States. As of December 31, 2023, the company owned interests in 176 apartment communities containing 59,800 apartment homes in the United States. It is the 14th largest owner of apartments in the United States.
AvalonBay Communities, Inc. is a publicly traded real estate investment trust that invests in apartments.
Starlight Investments is a privately-held Canadian real estate investment and asset management company based in Toronto, Ontario. As of 2021, Starlight owns 70,000 multi-family units, 8 million square feet of commercial space, and over 600 properties across Canada.
CoStar Group, Inc. is a Washington, DC-based provider of information, analytics, and marketing services to the commercial property industry in the United States, Canada, the United Kingdom, France, Germany, and Spain. Founded in 1987 by Andrew C. Florance, the company has grown to include the online database CoStar and many online marketplaces, including Apartments.com, Homes.com, LoopNet, Lands of America, and BizBuySell.
JRK Property Holdings is a Los Angeles based real estate holding and property management company. In 2014, JRK was the 15th largest apartment owner in the United States as ranked by the National Multi Housing Council.
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.
RealPage is an American multinational corporation that provides property management software for the multifamily, commercial, single-family, and vacation rental housing industries. Dana Jones is Chairman of the Board & Chief Executive Officer.
Brookfield Property Partners L.P. is a global commercial real estate firm that is a publicly traded limited partnership and a subsidiary of Brookfield Asset Management, an alternative asset management company. Its portfolio includes properties in the office, multi-family residential, retail, hospitality, and logistics industries throughout North America, Europe, and Australia. Its subsidiary Brookfield Properties is responsible for the management of these facilities.
Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.
Mid-America Apartment Communities, Inc. (MAA) is a publicly traded real estate investment trust based in Memphis, Tennessee that invests in apartments in the Southeastern United States and the Southwestern United States.
The Minto Group is a Canadian real estate company based in Ottawa, Ontario. It builds homes in Ottawa, Toronto, Calgary, and Florida, and manages multi-residential and commercial properties in Ontario and Alberta. As of 2018, Minto has built 85,000 new homes, and manages $2.9 billion in assets, including 13,000 multi-residential units and 2.7 million square feet of commercial space. The firm is one of Ottawa's largest residential landlords. Minto also has a publicly traded subsidiary, holding some of its multi-residential units, called Minto Apartment Real Estate Investment Trust. Some of Minto's joint-venture partners have been with Lasalle Investment Management, Greystar, and CPPIB.
TruAmerica Multifamily is a Los Angeles-based multifamily investment firm that specializes in the acquisition and renovation of large class B apartment properties across the United States. Since its founding in 2013 by real estate investor Robert E. Hart, the company has acquired and/or asset manages a portfolio of more than 55,000 apartment units valued at roughly $16.1 billion.
Robert Alan Faith is an American businessman, and the founder, chairman and chief executive officer (CEO) of Greystar Real Estate Partners.
Invitation Homes Inc. is a public company traded on the New York Stock Exchange. It is headquartered in the Comerica Bank Tower in Dallas, Texas. Dallas B. Tanner is chief executive officer. As of 2017, the company was reportedly the largest owner of single-family rental homes in the United States. As of December 2022, the company owned about 83,000 rental homes in 16 markets.
Tricon Residential is a Canadian real estate company. The company invests in single-family rental and multi-family rental homes, and owns about 31,000 properties across the United States and Canada. As of February 2021, the company had about $8.2 billion of assets under management.
The Rockpoint Group (Rockpoint) is an American private equity real estate firm headquartered in Boston.
Pretium Partners, LLC (Pretium) is an American alternative investment firm headquartered in New York City. The firm focuses on investments in residential real estate as well as Corporate and Structured Credit.
$76+ billion AUM across multiple strategies and geographies