Euromoney Global Real Estate Awards 2023: The world’s best residential developer – Greystar Real Estate
With $280 billion of real estate in 241 markets globally, Greystar’s commitment to the residential sector is phenomenal.
Not only is it the largest manager of apartments in the US, it also manages more than 822,100 units globally across North and South America, Asia Pacific and Europe, as well as having $75 billion in assets under management and $32 billion global development assets.
Its commitment to the European market was best demonstrated by Greystar Europe Investment Management’s Greystar Equity Partners Europe I fund (GEPE I), which closed at €1.55 billion in July 2022.
The fund focuses on the acquisition and select development of purpose-designed rental apartments and student housing in Europe’s main cities and was oversubscribed at its first close in May 2021, surpassing its original equity target of €1 billion.
GEPE I has committed more than €770 million in equity to closed and identified assets less than a year into its investment period, with an additional €220 million in assets under exclusivity. The resulting portfolio spans 22 assets in six countries and comprises more than 11,000 units/beds in total.