Greystar Makes Strategic Investment in Thackeray Partners

Complementary Businesses to Drive Continued Growth and Enhanced Capabilities in Rental Housing

CHARLESTON, S.C. and DALLAS, TX – September 16, 2020 – Greystar Real Estate Partners, LLC (“Greystar”), a global leader in the investment, development, and management of high-quality rental housing properties, today announced a strategic investment in Thackeray Partners (“Thackeray”), a leading private real estate investment firm with expertise in rental housing and industrial asset management. As part of the transaction, Greystar has agreed to acquire 45% of Thackeray with the future option to purchase the remainder of ownership interest within the next two years.

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 $5.3 billion, representing over 23,200 rental housing units and nearly 20 million square feet of industrial space. Thackeray will remain in their Dallas office and co-founders Dona and Hager will continue to chair the Thackeray fund business.

With 693,000 units and a 27-year history, Greystar has a well-established track record as an owner, operator, and developer of premier rental housing assets around the globe. The firm has successfully invested in and partnered with leading real estate investment firms to enhance its core businesses, scale its platform, and explore attractive opportunities adjacent to its existing fund strategies, providing greater fund offerings and optionality to its investors. By leveraging its unmatched residential insights across the entire renter’s lifecycle, Greystar strives to provide the highest quality and most reliable services in rental housing by aligning with partners that complement its existing investment strategies and fundamentals to remain consistent with its growth strategy to enhance the end-consumer renter experience.

“When we consider our long-term strategic priorities, investing in partners that are culturally compatible with capabilities that complement our existing business and leverage the platform we’ve built is of the utmost importance,” said Bob Faith, Founder, Chairman, and CEO of Greystar. “Partnering with Tony, Mary, and the entire Thackeray team adds expertise and core competencies in all aspects of investment, asset management, and ownership that we couldn’t be happier about. There is significant upside to this transaction, and we look forward to utilizing Thackeray’s 15-year track record in fund management to build on our multifamily platform and capitalize on new opportunities.”

“We have known Bob and the Greystar team for nearly three decades and have watched the firm grow through prudent investments and strategic partnerships to become the most sophisticated global leader in rental housing,” said Tony Dona, Co-Founder and Co-CEO of Thackeray. “We are optimistic about what this transaction will do for Thackeray and our partners, along with the opportunity to play a role in the continued growth and expansion of Greystar.”

“We believe our funds will continue to provide a truly special niche product yet will enjoy the added benefits provided by the size of the Greystar operating platform,” said Mary Hager, Co-Founder and Co-CEO of Thackeray. “We are excited about the future and the value this will create for our partners, and for the broader Greystar platform this will provide our people. We couldn’t ask for a more complementary partner than Greystar.”

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 $200 billion+ of real estate in nearly 200 markets globally including offices throughout the United States, United Kingdom, Europe, Latin America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing approximately 693,000 units/beds, and has a robust institutional investment management platform with approximately $35.5 billion of assets under management, including over $15 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 $1.5 billion, Thackeray has closed or committed to transactions totaling over $5.3 billion, representing equity placements of approximately $1.2 billion since its inception. The firm’s total investment activity includes more than 210 separate transactions representing over 23,200 apartment units and nearly 20 million square feet of industrial space. To learn more, visit

Media Contacts

Jon Keehner / Julie Oakes / Jack Kelleher

Joele Frank, Wilkinson Brimmer Katcher

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