Greystar is the preeminent, vertically integrated residential real estate company offering expertise in investment management, development and property management of rental housing properties – multifamily, student housing, senior living and corporate housing– globally. Headquartered in Charleston, South Carolina, USA, Greystar manages and operates an estimated US$200 billion+ of real estate in nearly 200 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 more than 713,000 units/beds, and has a robust institutional investment management platform with approximately US$37.2 billion of assets under management, including over US$16 billion of assets under development. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world class service for rental housing. By adhering to its core values – Integrity, Respect, Professionalism, Accountability, Service, and Teamwork – Greystar continues to innovate and create solutions that help it to fulfil its mission. To learn more, visit www.greystar.com.
Greystar’s forecast for residential housing remains constructive across global markets. Despite increased attention on the multifamily sector from institutional investors in specific markets like the United States, Germany, and Japan, the long-term multifamily outlook remains positive as many developed markets continue to wrestle with demand-supply housing imbalances. These favorable tailwinds are further supported by population growth, urbanization and smaller households, requiring more efficient land use and higher density housing that multifamily offers. Concurrent with these drivers of multifamily demand, global consumers are increasingly preferring the flexibility and benefits provided by multifamily housing such as on-site amenities and 24-hour services. Together, these secular trends have resulted in growing demand for rental housing globally.
The multifamily sector is gaining momentum in Asia Pacific given a variety of opportunities with different risk/reward profiles. Specifically, in China and Australia there is a complete absence of institutional-quality apartments, providing attractive opportunities for development and repositioning, whereas in Japan there are opportunities to acquire existing assets with stable cash flow and debt spreads that provide attractive leveraged equity returns. Urbanisation continues to provide support for the demand growth. With tight housing policies and unaffordable home ownership costs in many major cities such as Shanghai and Sydney, multifamily is increasingly becoming an alternative housing option for consumers. Policies favouring multifamily solutions are being adopted by governments to address the affordability concerns. Greystar expects to leverage the global operational experience to capitalise on the institutionalisation of the multifamily sector.
Strategic corporate development
Greystar has replicated its investment strategy from the United States over to selected cities in Europe, Asia and Latin America by building a blue-chip organization with the aspiration to be the market leader of rental housing globally. In 2017, Greystar established an Asia Pacific platform with the intention of becoming the pre-eminent, vertically integrated owner and operator of rental residential assets in the region. Greystar has established offices in China and Australia, where the multifamily supply and demand fundamentals are favorable and development of purpose-built multifamily provides an early mover advantage for strong returns that leverage Greystar’s 28-plus year history in rental housing. Further, Greystar opened its first office in Tokyo and Singapore in 2019 and to take advantage of the largest established institutional multifamily market outside of the US.
Investment principles & strategy
With over 26 years of experience investing in residential rental housing, Greystar has developed a successful investment approach focused on identifying and executing opportunities that seek to drive value at the property-level. Proven purpose-built rental design and operational excellence lead to a premium over market rents, often above-inflation growth, while offering security of income and a lower volatility outcome. Greystar continually seeks to deploy capital in markets with strong fundamentals while executing the investment strategies it has agreed upon with its capital partners. These strategies benefit from the company’s extensive information networks and relationships, including property management clients, lenders, developers and institutions to identify investment opportunities. Greystar’s vertically integrated, global platform is well-suited to source off-market opportunities and quickly analyse, underwrite and execute on single-asset acquisitions and developments, as well as large portfolios.
Greystar believes that compelling opportunities typically include characteristics that fit within the following profile: (i) assets in attractive locations within high-barrier-to-entry submarkets in a strategy’s target markets that are poised for outperformance due to strong residential fundamentals; (ii) assets that exhibit potential for operational improvements leveraging Greystar’s property management expertise and scale; and (iii) assets that display upside potential through executing Greystar’s historically proven capital renovation programme.
The information contained in this document is provided as of the date above, unless noted. This document does not constitute an offer to sell or a solicitation of an offer to buy any securities. Any such offer/solicitation can only be made by the applicable offering documents furnished to qualified investors in jurisdictions where permitted by law. Any opinions, forecasts, projections or other statements, other than statements of historical fact, that are made in this document are forward-looking statements. Greystar gives no express or implied representation or warranty, and no responsibility is accepted with respect to the adequacy, accuracy, completeness or reasonableness of any information set out in this document, and nothing contained herein shall be relied upon as a promise regarding any future performance.