Greystar Closes on Remaining 55% Interest in Thackeray Partners

Exterior Photo Greystar Corporate Headquarters

CHARLESTON, SC and DALLAS, TX – Monday, May 17th , 2021 – Greystar Real Estate Partners, LLC (“Greystar”), a global leader in the investment, development, and management of rental housing properties, today closed on the previously announced acquisition of Thackeray Partners (“Thackeray”), a leading private real estate investment firm with expertise in rental housing and industrial asset management. In October of 2020, Greystar acquired 45% of Thackeray with the future option to purchase the remainder of ownership interest within two years. This announcement marks the closing of the remaining 55%.

Founded in 2005 by Tony Dona and Mary Hager, Thackeray has a distinguished track record of executing attractive investments in the rental housing and industrial asset classes across five separate funds. Headquartered in Dallas, to date, the firm has closed or committed to transactions totaling over $5.9 billion, representing over 25,300 rental housing units and nearly 22 million square feet of industrial space. The Thackeray team will remain in its Dallas office and co-founders Dona and Hager will continue to co-chair the Thackeray fund business, while also sitting on the Greystar Executive Committee.

As a global leader in rental housing, Greystar has a well-established track record of acquiring and integrating strategic portfolios and real estate companies. With the completed acquisition of Thackeray, Greystar will leverage its vertically integrated platform and extensive local market knowledge to enhance its core business and capitalize on growth opportunities in the industrial space. This combined team is uniquely familiar with the complexities of identifying, entitling, developing, and constructing premier assets in the most desirable markets. With a new focus on industrial, Greystar is bringing its wide range of experience and applying the fundamentals that have been carefully refined over many years.

“We are always focused on building our core business while identifying strategic growth opportunities, and this addition couldn’t be better for both of these goals,” said Bob Faith, Founder, Chairman, and CEO of Greystar. “Since making our initial investment in Thackeray last October, we’ve been so impressed by Tony, Mary, and their team, and they couldn’t be more compatible with Greystar and our vision. We’re excited to continue building our multifamily platform together while also tapping their deep expertise in industrial.”

“From the outset of this partnership last fall, we have found that we can leverage the scale and knowledge of Greystar to enhance our rental housing execution in the Thackeray Fund series. Further, we look to use this same scale to provide an exciting warehouse execution ability for both Greystar and Thackeray historical partners,” said Mary Hager, Co-Founder and Co-CEO of Thackeray. “Having worked with Bob and Greystar over many years and with a collective view of the opportunity we face together, we look forward to seeing what our teams can accomplish.”

“Over the course of our thirty-year relationship with Bob and Greystar, it is clear that Greystar and the Thackeray team share core values that have made for great partners from the start,” said Tony Dona, Co-Founder and Co-CEO of Thackeray. “There is a great platform and great talent here – I couldn’t be more excited for our next chapter.”

Financial terms of the transaction were not disclosed.

About Greystar

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 over an estimated $220 billion of real estate in nearly 200 markets globally including offices throughout the United States, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing approximately 729,000 units/beds, and has a robust institutional investment management platform with approximately $39.8 billion of assets under management, including over $18.3 billion of assets under development. 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

About Thackeray

Formed in January 2005 by Mary Hager and Tony Dona, Thackeray is a Dallas-based real estate investment firm that seeks to acquire and invest in a diversified portfolio of rental housing and industrial assets that provide recurring current income distributions and capital appreciation. With total current assets under management of $1.7 billion, Thackeray has closed or committed to transactions totaling over $5.9 billion, representing equity placements of approximately $1.3 billion since its inception. The firm’s total investment activity includes nearly 230 separate transactions representing over 25,500 apartment units and nearly 22 million square feet of industrial space. To learn more, visit

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