Greystar sells 30-property portfolio fund for $3.6 billion

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Greystar Real Estate Partners is selling its flagship U.S. multifamily value-add fund for approximately $3.6 billion. The fund comprises a 30-property, U.S. multifamily portfolio and originally was created as part of the company’s flagship rental housing value-add fund series, the company said.  

“The fund focuses on acquiring well-located, institutional quality apartment communities in target markets throughout the U.S. that present significant upside potential through operational efficiency and capital improvements,” the release said.  

The fund series, which the Charleston-based company said has raised $5 billion, focuses on acquiring well-located institutional apartment communities in target markets throughout the U.S. with significant upside potential. The series includes investors from North America, Continental Europe and Asia-Pacific.    

“With a presence in 165 markets in the U.S. and 210 markets globally, Greystar’s vertically integrated platform has a breadth of expertise, and a real view on relative value and relative growth,” Greystar founder, Chairman and CEO Bob Faith said in a statement. “The disposition demonstrates the value of combining our strong global perspective with our specialized local knowledge to be able to deliver the best outcomes for our capital partners.”

Greystar manages and operates an estimated $220 billion in real estate in more than 210 markets worldwide.