Greystar Real Estate Partners Raises $2 Billion for GEP X

November 7, 2019 | Investments, News, Real Estate

This is the largest ever fundraising for a U.S.-based value-add fund in the multifamily space.

Greystar Real Estate Partners raised $2 billion for a new U.S. multifamily fund.

Further, the new fund will target multifamily investments in the U.S. markets. Target companies will focus on projects that have buildings in good condition. They will also aim to build steady cash flow and have strong management.

“This is an exciting close to a milestone fundraise for our team,” said Bob Faith, founder, chairman and CEO of Greystar. “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.”

Greystar Real Estate Partners’ History of Funds

Furthermore, the new fund is the Greystar Equity Partners X fund.

Greystar Real Estate Partners had raised several large funds in recent years, each one increasingly larger than the previous one.

First, the GEP VII raised $600 million. Next, the GEP VIII raised $800 million. Finally, the GEP IX collected $1.25 billion. Investors include institutional investors from Asia, North America, and Europe.

The progressive increase in targets is a sign that more investors are pushing toward more defensive positions. These assets can produce income and have an appreciation upside.

“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.”

Related: Nuveen Real Estate Buys 100 New Properties in 12 Markets

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