Greystar Closes $500M Greystar Credit Partners
Staff Report From Charleston CEO
Friday, June 8th, 2018
Greystar Real Estate Partners, LLC, a global leader in the investment, development and management of high-quality purpose-built rental housing properties, announced the launch and funding of Greystar Credit Partners I, LP (“Greystar Credit Partners”). The $500 million commercial real estate debt fund will focus on acquiring subordinated and securitized debt issued by US Government-sponsored entities.
“The formation of Greystar Credit Partners is a logical progression for us. Our principal business is utilizing our global rental housing platform to provide services and invest alongside our partners and clients. We are driven to explore new avenues where we can positively leverage our extensive operating expertise and scale,” said Bob Faith, Founder and CEO of Greystar.
Brett Lashley, Managing Director at Greystar, will oversee Greystar Credit Partners’ investment activities. Mr. Lashley has more than 20 years of experience sourcing and underwriting commercial real estate debt and equity investments in the Unites States and Europe. Prior to joining Greystar in 2009, Mr. Lashley served as Managing Director and Chief Operating Officer at ORIX Finance, a subsidiary of ORIX USA. He previously worked at Bear Stearns & Co. in fixed income sales.
“Our vertically-integrated rental housing platform, together with our intimate knowledge of the origination and underwriting guidelines utilized by the GSEs, positions us well to invest in the most subordinate part of the capital structure,” said Mr. Lashley. “We’ve been diligent about building a platform that allows us to quickly distill actionable data from very local markets around the country. And we like the risk/return metrics these instruments make available, particularly when our internal data provides the appropriate guidance. We’ll be patient stewards of this capital and look forward to successfully advancing our investment strategy when the right opportunities present themselves.”