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Greystar Acquires Alliance Residential Property Management Business to Expand Rental Housing Footprint to 660,000 Units
Wednesday 03 June 2020

US rental housing investment company Greystar Real Estate Partners, LLC has acquired the property management business of US Alliance Residential Company to add a portfolio of 500 multifamily properties and 130,000 primarily class A units across 21 states to the Greystar brand, the company said.

Financial terms of the transaction were not disclosed.

The Alliance portfolio and its diversified base of clients will complement Greystar's leading property management platform to deliver numerous benefits that enhance property operations, services and offerings.

The combined portfolio will increase Greystar's US footprint by approximately 25% and complement the firm's current presence in key western markets, such as the San Francisco Bay Area, Los Angeles, Phoenix, Denver and Las Vegas, in addition to the Northeast and Pacific Northwest.

Through this transaction, Greystar will grow to nearly 19,000 team members overseeing a portfolio of more than 2,400 communities and 660,000 apartment units across 42 US states and 13 countries.

As part of the deal, Greystar will provide management services to Alliance's multifamily acquisition and development businesses going forward.

Greystar is a fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. Greystar manages and operates an estimated USD 200bn+ of real estate in nearly 200 markets globally including offices throughout the United States, United Kingdom, Continental Europe, Latin America, and the Asia-Pacific region.

Alliance Residential company is a multifamily developer and fourth largest multifamily manager in the US. Alliance is focussed on the development, construction and acquisition of residential communities, including development of high profile Broadstone communities as well as workforce housing through its Prose brand.
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Date Published: 03/06/2020

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