Greystar Reaches Financial Close on Phase I of Historic Partnership with Ole Miss
OXFORD, MS — March 23, 2026 — Greystar, a global leader in investment management, development, and property management today announced the successful financial close and construction start for Phase I of our public-private partnership with the University of Mississippi (“Ole Miss”) to transform the residential experience on its campus in Oxford, MS.
The Phase I project on the site formerly occupied by Kincannon Hall will deliver 1,282 beds of semi-suite-style housing for Ole Miss students in time for the 2027-28 academic year. It is the fifth on-campus partnership closed by Greystar in 2025-26 and the second with a flagship university.
“We are thrilled to reach financial close and be under construction on the first phase of our long-term partnership with Ole Miss,” said Derek Brown, Senior Managing Director, Development. “Ole Miss had an immediate need to increase the supply of modern, high-quality, and affordable housing available to their students, and Greystar is proud to help the University achieve that objective.”
Kincannon will be constructed in partnership with Modern Living Solutions, Greystar’s modular construction business. Sections of the buildings will be made in the Modern Living Solutions factory in Knox, Pennsylvania, and shipped to campus to be assembled on site. We believe there are multiple benefits to modular construction, including shortened construction durations, lower costs, enhanced construction quality, and reduced carbon emissions.
“This is an opportunity to showcase our firm’s modular capabilities on an active university campus,” said Rick Weston. Senior Director, Modular Construction. "Modular construction in a controlled factory environment supports consistent quality standards. We look forward to bringing light-gauge steel construction to Ole Miss."
The project was designed by a leading student housing architect WDG, with support from local architect CDFL. To support economic development and job creation in Mississippi, Greystar is making over 70 percent of the on-site construction work available to local and regional subcontractors.
The $101.2 million Phase I was financed through project-based tax-exempt bonds. Provident Resources Group, a 501(c)(3) non-profit entity, serves as the project owner and borrower of the bonds, with Raymond James as the bond underwriter.
Phase II of the partnership, located on West Row across from the Ole Miss School of Law, is expected to deliver additional suite-style beds opening in 2028.
About Greystar
Greystar is a leading, fully integrated global real estate platform offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing. Headquartered in Charleston, South Carolina, Greystar manages and operates over $300 billion of real estate in over 260 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing more than one million units/beds globally. Across its platforms, Greystar has over $79 billion of assets under management, including approximately $36 billion of development assets and over $30 billion of regulatory assets under management. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business.
Media Inquiries
Amy Fitzgerald
Amy.fitzgerald@greystar.com