Greystar sells flagship U.S. multifamily value-add fund for $3.6b

Greystar Real Estate Partners has agreed to sell a 30-property, U.S. multifamily portfolio for $3.6 billion.

The fund was formed as part of Greystar’s flagship U.S. rental housing value-add fund series. The fund focused on acquiring well-located, institutional-quality apartment communities in target markets throughout the United States that present significant upside potential through operational efficiency and capital improvements. Since its launch, the fund series has raised $5 billion. In November 2019, Greystar announced the final close of the most recent fund in the series, a $2 billion vehicle, which is now fully invested. The fund series includes a diverse group of global institutional investors from North America, continental Europe and Asia Pacific.

“With a presence in 165 markets in the United States and 210 markets globally, Greystar’s vertically integrated platform has a breadth of expertise, and a real view on relative value and relative growth,” s