Under the freshly produced contract, all residential or commercial properties owned by Wood will see their management tasks moved to Greystar.
Mark your calendars for the supreme realty experiences with Inman’s approaching occasions! Dive into the future at Link Miami, immerse in high-end at High-end Link, and assemble with market leaders at Inman Link Las Vegas. Discover more and sign up with the market’s finest at inman.com/events
Residential or commercial property management company Greystar revealed today a brand-new collaboration with Wood Partners, among the biggest rental real estate designers in the United States.
Under the contract, all residential or commercial properties owned by Wood will see their management tasks moved to Greystar, with Wood’s 635-person residential or commercial property management personnel ending up being Greystar staff members. Greystar will work as supervisor for all existing and future Wood residential or commercial properties, according to a news release
” We are delighted to create this brand-new tactical collaboration with the Greystar residential or commercial property management group,” Joe Keough, CEO of Wood Partners stated in a declaration. “Greystar is extensively acknowledged as a market leader within the residential or commercial property management area. Their collective method throughout the combination procedure will lead the way for success not just for our robust portfolio of residential or commercial properties, however most significantly the devoted partners that comprise our gifted residential or commercial property management group.”
Wood’s portfolio includes over 130 multifamily residential or commercial properties consisting of 38,000 systems throughout 17 states, representing both existing and prepared jobs. The merger will bring Greystar’s management portfolio to over 895,000 systems throughout 3,200 advancements, and its personnel count to over 24,000 individuals. Residential or commercial property management companies like Greystar have actually discovered themself the recipient of brand-new apartment or condo stock coming online throughout the previous year as multifamily jobs that began after 2020 go into conclusion.
Wood, which is amongst the leading 5 biggest multifamily designers in the United States, is popular for its Alta-branded mixed-use apartment or condo advancements, having most just recently opened the 325-unit Alta at the Farm beyond Dallas.
” Wood Partners is among the first-rate and most well-respected designers and owners of institutional quality rental real estate residential or commercial properties in the nation, and we are honored that they have actually chosen Greystar to be their single-source supplier for management services,” Mike Clow, executive handling director of Greystar’s U.S. realty services stated in a declaration. “We anticipate inviting the Wood residential or commercial property management employee to the Greystar household and are delighted about the long-lasting nature of our continued collaboration with Wood Partners and their management group.”