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$3.6 Billion: Sale Price for Greystar Flagship U.S. Multifamily Value-Add Fund
Charleston, SC-based Greystar Real Estate Partners, LLC, has agreed to sell a 30-property, U.S. multifamily portfolio for approximately $3.6 billion.
“With a presence in 165 markets in the U.S. and 210 markets globally, Greystar’s vertically integrated platform has a breadth of expertise, and a real view on relative value and relative growth,” said Bob Faith, founder, chairman and CEO of Greystar. “The disposition demonstrates the value of combining our strong global perspective with our specialized local knowledge to be able to deliver the best outcomes for our capital partners.”
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 has raised $5 billion.
According to published reports, the buyer is Ivanhoe Cambridge and with this sale Greystar is exiting its ninth value-add flagship fund.
Eastdil Secured served as the exclusive financial advisor to Greystar.
- ◦Sale/Acquisition
