CHARLESTON, SC - Greystar Management Services, L.P. announced today that it has closed on the purchase of Seattle-based Glacier Real Estate Services. Encompassing 32 properties across Washington and Oregon, the acquisition and integration with the existing Glacier team significantly enhances Greystar's local presence and expertise in the Pacific Northwest.
"Joe Manca, Lynn Owen, Mike Simons, and the entire Glacier team have built one of the premier management firms in the Pacific Northwest, and we are thrilled to welcome them to Greystar. Their focus on quality, integrity and performance is perfectly aligned with Greystar's core beliefs and culture," said Bob Faith, Greystar's Chairman and CEO. "Real Estate continues to be a local business, and our philosophy has always been to have the best people on the ground in any market. We believe the combination of Glacier's local team, expertise, and reputation, with Greystar's national resources and best practices will enable us to provide an exceptional level of service to our residents, clients, and team members in the Pacific Northwest."
"From day one, Glacier has been about creating success for the investments of our clients, the future of our employees, and the continued success and growth of our company," said Joe Manca, President of Glacier Real Estate Services. "We have had other opportunities over the years, and we are confident that there is no better home for our residents, clients, and team members than at Greystar. We have shared values, a shared vision, and most importantly we are focused each day on our residents, clients, and our people. We're excited to become part of the Greystar family."
Glacier Real Estate Services currently manages 32 properties and nearly 400,000 square feet of commercial square footage throughout the Pacific Northwest. The Glacier management team and other key employees will remain in place, joining a combined national force of nearly 5,000 Greystar team members.
Greystar Real Estate Partners is a fully integrated company offering expertise in multifamily management, development and investment throughout the United States. Greystar was founded in 1993 with the intent to become a provider of world-class service in the multifamily real estate business. Greystar's innovative business model integrates the management, development and investment disciplines of the multifamily industry on both national and local levels. Because the Greystar business model includes both investment- and service-oriented businesses, the company is able to maintain a constant presence in local markets and create value in all phases of the real estate cycle.
Headquartered in Charleston, S.C., Greystar manages over 175,000 units (640 properties) in over 100 markets with a team that is nearly 5,000 strong and growing. Greystar has invested approximately $3 billion in multifamily investments since its inception.
Glacier Real Estate Services was founded in 1999 by Mike Simons and Joe Manca to provide professional management services to owners of multifamily and commercial properties in the Seattle area. Lynn Owen joined the firm in 2004 as Principal and the three partners worked together to solidify Glacier's reputation for delivering high quality, proactive, and professional real estate services and retaining knowledgeable, qualified staff throughout its portfolio of properties. As a result, Glacier Real Estate Services is now one of the region's premier property management companies and its continued growth and success is a testament to their high level of expertise and professionalism.
Source: Greystar