PRESS RELEASE – FOR IMMEDIATE RELEASE

PRESS RELEASE – FOR IMMEDIATE RELEASE
CONTACT: Tricia Peters – (602) 522-1228 / [email protected]
Greystar Closes on $800 Million Multifamily Acquisition Fund
Charleston, SC – Greystar Real Estate Partners (“Greystar”) is pleased to announce the final close of Greystar Equity
Partners VIII, L.P. (“GEP VIII”), a discretionary commingled fund focused on the acquisition of value-add multifamily
assets across the United States. The final close brings total equity commitments to $800 million, with contributions from
a diverse group of global investors ranging from domestic and international pension plans to private wealth managers.
GEP VIII is Greystar’s most recent fund offering and follows Greystar Equity Partners VII, L.P., a $600 million predecessor
value-add fund that is fully invested with concentrations in major markets nationwide.
GEP VIII’s fund strategy is to aggregate a nationally diversified portfolio of high quality multifamily assets in target
markets that are poised for outperformance. As the largest apartment operator in the country with expertise across
acquisition, development, and renovation disciplines, Greystar looks to leverage its vertically-integrated platform to
identify mismanaged or undercapitalized communities in which the Company’s management and renovation expertise
can drive meaningful value enhancement. “Greystar is extremely excited about the final close of the fund, and we are
encouraged with the investor reception we received,” said Bob Faith, Chairman and CEO of Greystar. “The recent
expansion of our operating platform gives us even greater depth throughout the major markets in the U.S., which will
further enhance our ability to identify and execute on attractive investment opportunities for our investors.”
As of publication date, GEP VIII has allocated approximately $150 million towards a seed portfolio of 10 properties
including an asset in Los Angeles and a collection of value-add opportunities in markets with high exposure to domestic
energy employment including Houston and Dallas. “While the multifamily landscape has evolved over the last couple
years, we continue to have a positive outlook on the industry driven by strong secular demand trends and headwinds
against widespread over-development,” explained Wes Fuller, Executive Managing Director and head of Greystar’s
Investment Management business. “We believe the environment is one that favors value-add expertise, and we are
keenly focused on finding the right opportunities in the right markets.”
About Greystar Real Estate Partners
Greystar is a fully integrated real estate company offering expertise in investment management, development, and
property management of residential properties. Headquartered in Charleston, South Carolina, Greystar is the largest
operator of apartments in the United States, managing approximately 385,000 units in over 100 markets. Greystar also
has $1.5 billion of development underway and has a robust institutional investment management platform with over
$7.5 billion in assets under management in major markets globally. 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 about
Greystar, visit www.greystar.com.
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