Greystar closes its U.S. multifamily value-add fund at $2bn

Greystar closes its U.S. multifamily value-add fund at $2bn

Greystar Real Estate Partner announced the final close of its U.S. multifamily value-add fund, Greystar Equity Partners X (“GEP X”), with equity commitments of $2 billion from a diverse group of global institutional investors from North America, Continental Europe and Asia-Pacific.

”GEP X represents the largest ever fundraise for a U.S. multifamily value-add fund’, said Greystar in a statement.

GEP X is the 10th in Greystar’s series of funds focused on acquiring existing assets in top U.S. markets that exhibit favorable rental housing fundamentals.

“This is an exciting close to a milestone fundraise for our team. We have been laser focused on continuously refining our value-add strategy and cultivating strong relationships with our investment partners, and we are proud of the outcome here,” said Bob Faith, Founder, Chairman and CEO of Greystar. “We’re grateful for the trust that a growing number of global institutions place in us.”

“As we move later into the real estate cycle, we are seeing that global institutional investors are increasingly flocking to more defensive investment strategies with integrated managers,” said Kevin Kaberna, Executive Director of Greystar’s U.S. Investment Management business. “We continue to seek to identify compelling cash flowing investments that align with our strategic priorities, and we remain confident in our team’s ability to prudently deploy capital.”