Greystar holds $1.34b first close for 10th multifamily-focused fund

Greystar, a fully integrated real estate company headquartered in Charleston, S.C., has held a $1.34 billion first close for its 10th multifamily-focused real estate fund, Greystar Equity Partners X, according to a filing with the SEC. The firm did not comment on its fundraising efforts.

Greystar Equity Partners X is targeting a $2 billion hard-cap for Fund X. The fund is a continuation of Greystar’s flagship series of funds, which acquires multifamily properties throughout the United States. Fund X is targeting cash-flowing investments across U.S. cities with strong market fundamentals. Like the other funds in the series, it is leveraging Greystar’s vertically integrated platform of investing, developing and managing properties.

The fund received equity commitment from numerous capital partners, which include institutional investors around the world.

With this first close for Fund X, Greystar has raised $4 billion for its flagship Greystar equity partners series since 2011. The previous fund in the series, Greystar Equity Partners IX, held a $1.25 billion final close, while the next fund, Greystar Equity Partners VIII, held an $800 million final close.

Greystar manages more than 480,000 multifamily units in more than150 markets globally, with an aggregate estimated value of approximately $80 billion.