IRVING, TX-Greystar Real Estate Partners has agreed to acquireArchon Residential Management, according to company executives andindustry experts who declined to be named in this story.
A spokesman from Greystar said he could not "confirm or deny"the acquisition and calls to Archon were not returned, yet severalGreystar employees confirmed to GlobeSt.com that the acquisitionwill close imminently. Moreover, several industry executives havealso confirmed the acquisition through discussions with Greystarexecutives.
Charleston, S.C.-based Greystar is already one of the largestmultifamily managers in the nation, according to the National MultiHousing Council (NMHC). It ranks as the third largest manager withmore than 150,000 units under management about 75 markets. Itemploys more than 4,000 people.
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