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Greystar Acquires Alliance Residential’s Property Management Business

Greystar Real Estate Partners has acquired the property management business of Alliance Residential Company for a reported $200 million. The deal will add more than 500 multifamily properties and nearly 130,000 primarily Class A units across 21 states to Greystar’s portfolio, bringing it to 2,400-plus properties and 660,000 units across 42 states and 13 countries.

Phoenix-based Alliance is ranked as the leading developer of multifamily units in the U.S. for the past two years, as well as the nation’s fourth-largest management company. It will streamline its focus on development, construction and acquisition across the multifamily, workforce and senior housing segments.

As part of the deal, Greystar will provide management services to Alliance’s multifamily acquisition and development businesses.

“We only consider acquisitions of companies that are culturally compatible and fit our long-term strategic objectives,” said Bob Faith, founder, chairman and CEO of Charleston, SC-based Greystar. “In Alliance, we’ve found both.”

Pictured: Broadstone Vilara Apartments in Laguna Niguel, CA.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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