Breaking will be offline for scheduled maintenance Saturday May 8 3 AM US EST to 12 PM EST. We apologize for the inconvenience.


Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Bob Faith

NEW YORK CITY–Yesterday Greystar announced it was acquiring Education Realty Trust for $4.6 billion. Greystar is making the purchase through a newly-formed perpetual-life fund called Greystar Student Housing Growth and Income Fund. As part of the deal, it is partnering with Blackstone Real Estate Income Trust to acquire 20 of EdR’s assets — namely, properties located close to several universities — for $1.2 billion. After the deal was announced caught up with Greystar CEO Bob Faith to learn more about the transaction and how it plays into Greystar’s plans to expand into student housing.

Like most mega deals lately, Greystar’s decision to take EdR private was fueled by current dynamics in the market — the gap between valuations in the public and private markets and private equity’s massive supply of dry capital, among others. “The acquisition does highlight the fact that sometimes you acquire assets on Wall Street more efficiently than on Main Street,” Faith says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Erika Morphy

Erika Morphy has been writing about commercial real estate at for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

More from this author


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.