Multifamily Remains Strong

Last week, apartment management co. Greystar bought Alliance Residential, the fourth-largest management co in the U.S.

• The $200M purchase was all cash.

• This adds 130,000 housing units across 21 states to Greystar's portfolio

• Despite Covid-19 effects, CEO's of both firms were able to negotiate & seal a deal.

• The combined portfolio increases Greystar's footprint by 25%.

• Rents in the multifamily space remain flat despite the challenges with one D.C. developer stating lease-up activity has been robust throughout the pandemic.

#Multifamily #Greystar #AllianceReidential #Mergers #Covid19