Fortified with a smart business plan and the intent to bring world-class service to the multifamily real estate industry, Greystar has grown from its start in Houston, Texas with 9,000 managed residences to over 400,000 today. Our three lines of business: property management, investment and development, all enjoy international footprints. Our investment division has grown since inception and currently oversees a $14 billion global portfolio. Since 2000, our development division has sponsored 100 multifamily projects in the US comprising nearly 30,000 units with a market capitalization of nearly $7 billion.
When we founded Greystar in 1993, we did it with a clear idea of where the company would be in 5, 10 and even 20 years. Establishing a presence in desirable real estate markets and then staying in those markets with property management experts is one part of the strategy that positioned Greystar for growth. Developing strong investment and development divisions of the company was another part that has allowed us to choose timely real estate projects while riding out the ups and downs of the market. We also realized the importance of spotting trends on an international level, but implementing them at the local level. Finally, we believed partners who have ownership in the business are the best people to oversee each local and regional market. It's an approach that has allowed us to establish and maintain an entrepreneurial spirit that continues to attract high-quality clients, investors and team members to the company.
Throughout our history, the best and brightest minds in real estate have joined our team. Bill Maddux, a former COO of Trammell Crow Companies, joined Greystar in 1999 and currently serves as Executive Managing Director. Derek Ramsey came to Greystar in 1997 with an extensive background in corporate finance, and currently serves as Executive Managing Director. Andrew Livingstone joined Greystar in 1999 with an expertise in property management and accounting, and currently oversees Greystar’s real estate operations as Executive Managing Director. Wes Fuller, an established expert in real estate investment and finance, joined Greystar in 2001 and currently serves as Executive Managing Director overseeing Greystar’s investment management division. Scott Wise came to Greystar in 2005 from Trammell Crow Companies with an extensive background in multifamily development and currently oversees Greystar’s development division as Executive Managing Director.
Greystar will continue to redefine excellence in multifamily real estate through its unwavering commitment to operational excellence and by investing in the most talented people in the industry. These tenets have allowed us to become one of the largest and most respected companies.