Greystar Acquires Property Management Business of Alliance Residential

Greystar, a global leader in the investment, development, and management of high-quality rental housing properties has announced the acquisition of the property management business of Alliance Residential Company. The combined businesses will continue to deliver best-in-class services for clients, partners, and residents under the Greystar brand.

Comprising more than 500 multifamily properties and nearly 130,000 primarily Class A units across 21 states, 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. Over the past 20 years, Alliance has become the number one multifamily developer and the fourth largest management company in the United States. The combined portfolio will increase Greystar’s U.S. footprint by approximately 25 percent and significantly 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 U.S. states and 13 countries.

Alliance, the leading developer of multifamily units in the U.S. for the last two years, will streamline its focus on development, construction, and acquisition across the multifamily, workforce and senior housing segments. As part of the deal, Greystar will provide management services to Alliance’s multifamily acquisition and development businesses going forward.

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