Greystar Real Estate Partners has acquired the property management business of Alliance Residential Co. Financial terms of the transaction were not disclosed.
With the management of 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 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 t
