Greystar’s University Partnerships Development Pipeline Exceeds $1.7 Billion
Press Release March 28, 2019
CHARLESTON – March 28, 2019 – Greystar Real Estate Partners, LLC (“Greystar”), a global leader in the investment, development and management of high-quality rental housing properties, today announced that its University Partnerships platform has exceeded $1.7 billion in awarded projects including developments with Sacramento State University, Salisbury University, University of Massachusetts, Dartmouth, Mississippi State University and Lehigh University. Greystar is focused on establishing long-term public-private partnerships with colleges and universities to develop and revitalize on-campus housing across the country.
To support the continued expansion of its industry-leading on-campus portfolio, Greystar has bolstered the team dedicated to this critical element of its student housing platform. Julie Skolnicki, who served as Senior Vice President of University Partnerships at EdR prior to its merger with Greystar last September, has been promoted to Senior Managing Director, University Partnerships, and will lead the platform as it continues to scale nationally.
“Public-private partnerships have been instrumental in helping colleges and universities address the critical need for student housing infrastructure while preserving funds for other important initiatives, and the opportunity to grow this business line was central to our decision to acquire EdR last year,” said Bob Faith, Founder, Chairman and Chief Executive Officer of Greystar. “As demonstrated by its impressive development pipeline, we expect this platform to serve as a material driver of growth as we scale nationwide. We have full confidence in Julie and her team’s ability to advance our strategic priorities in this regard.”
In addition to Ms. Skolnicki, Greystar’s University Partnerships leadership team is comprised of three regional leaders including Jared Everett for the West, Jason Taylor for the Northeast and Patrick Parsons for the Southeast. Rounding out this team, Mark Grambergs leads the implementation of the platform’s large, multi-phased projects. Collectively, these professionals have worked on more than $6 billion of higher education mixed-use developments.
“Over time, we have built the collegiate housing industry’s premier public-private partnerships platform. The depth of our team’s knowledge and institutional relationships combined with our 50-year legacy of operating expertise and Greystar’s national infrastructure and financial strength provide us with a sustainable competitive advantage that is difficult to replicate,” said Ms. Skolnicki. “We are operating from a position of strength and look forward to capitalizing on the opportunities in front of us.”
Most recently, Greystar announced plans to move forward with a $164 million public-private partnership student housing project at California State University, Sacramento. The new housing project will include approximately 360,000 square feet of space with 284 apartment-style units for a total of 1,100 beds in six four-story residential buildings and a one-story clubhouse.
As a global leader in student housing with an owned portfolio of more than 91,000 student beds across the U.S., U.K., Spain and the Netherlands, Greystar is uniquely positioned to capitalize on strong demand for purpose-built student housing, and it will continue to scale this critical platform globally.
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 an estimated $115 billion of real estate in over 180 markets globally including offices throughout the United States, UK, Continental Europe, Latin America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing approximately 500,000 units/beds, and has a robust institutional investment management platform with $32 billion of assets under management including $12 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 www.greystar.com.
ICR on behalf of Greystar