Greystar Closes on Previously Announced Acquisition of Finger Companies Portfolio
Charleston, SC – December 15, 2021 – Greystar Real Estate Partners LLC (“Greystar”), a global leader in the investment, development, and management of high-quality rental housing properties, has acquired a portfolio for approximately $2 billion from The Finger Companies, a leading independent multifamily development and management company.
This strategic investment includes properties largely located in Houston, but also in Atlanta and Dallas, and it further expands Greystar’s presence in the Sunbelt. The assets consist of garden-style, mid-rise and high-rise construction in growing metro areas.
“Any growth opportunities for Greystar must clear a high bar and fit our long-term strategic objectives, and acquiring this portfolio from The Finger Companies is squarely in line with these goals,” said Bob Faith, Founder, Chairman, and CEO of Greystar. “The properties in this portfolio are extremely well-built and well-located, giving both our current and prospective residents even more choices with Greystar.”
In the Houston market, Greystar already boasts unparalleled expertise, managing over 54,000+ units in the metro across virtually all major submarkets. This is Greystar’s highest number of units under management across any single US metro area.
“This is an outstanding addition for Greystar as we continue to see compelling investment opportunities across the Sunbelt,” said Kevin Kaberna, leader of Greystar’s North American investment management platform. “The Sunbelt continues to outperform, with gains in high-earning employees across diversified sectors fueling household formation across the Houston, Dallas, and Atlanta metros.”
As part of the transaction, over 300 on-site employees at the assets acquired will become Greystar team members.
“We are also welcoming new team members from The Finger Companies, and it is clear they share our operating philosophy and people-centric approach to property management,” said Faith. “Cultural compatibility is important for us for any acquisition and given how much these team members are a part of the fabric of the communities at which they work, we are thrilled they will be a part of the Greystar team.”
The properties in this transaction will become a part of Greystar’s Owned Asset Portfolio.
Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. Headquartered in Charleston, South Carolina, Greystar manages and operates approximately $230 billion of real estate in 215 markets globally including offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages more than 754,000 units/beds, and has a robust institutional investment management platform with approximately $49.9 billion of assets under management, including $22.6 billion of development assets. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.
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