CHARLESTON, SC - Greystar Real Estate Partners announced that it has acquired Riverstone Residential Group, a leading manager of apartments in the United States, from London based CAS Capital Limited, a wholly owned subsidiary of Regis Group PLC owned by Nick and Peter Gould. The acquisition solidifies Greystar’s position as one of the world’s leading multifamily real estate services companies with over 385,000 apartment units under management in major markets throughout the United States and abroad.
“Riverstone is one of the nation’s most highly respected multifamily firms and we are proud to have them join our Greystar family,” said Bob Faith, Greystar’s Chairman and CEO. “Combining forces makes us even stronger, especially in local markets where we are bringing together some of the most talented and experienced multifamily professionals in the industry. Our local teams are well resourced, and will now harness the power of our combined technology and service platforms to further expand our service offerings to our clients, partners and residents.
Greystar has been among the largest managers of apartments in the United States for a number of years. Over its 20- year history, the company has successfully integrated a number of major operators, including the management arms of JPI, Archon, and Glacier. In addition to property management, the company also has a robust investment management and development platform and recently expanded its operations internationally to Mexico and the United Kingdom.
Nick Gould, Chairman of the Board for CAS Capital Limited, said “We are excited to complete this transaction with Greystar. The combining of these two great companies represents the realization of our vision to create the highest quality multifamily residential service provider in the U.S.” Peter Gould, Vice Chairman, added “We believe Greystar is a great strategic and cultural fit for the company and are proud that they will continue our legacy in providing high quality services to clients and residents. We now entrust a great company to Bob Faith as we move on to continue what we do best, creating and growing our other large scale business platforms.”
The acquisition will greatly enhance Greystar’s local presence in major markets throughout the country, particularly in the Western U.S. With a combined force of over 10,000 team members, the company manages apartment communities for many of the premiere ownership groups and institutions in the multifamily industry.
Source: Greystar Real Estate Partners / #Apartments #Multifamily