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CHARLESTON, SC—Greystar Real Estate Partners has made a final close on its fund Greystar Equity Partners X with equity commitments of $2 billion. Greystar says that GEP X represents the largest ever fundraise for a US multifamily value-add fund.
Investors in GEP X included global institutional investors from North America, Continental Europe and Asia-Pacific.
Since 2011, Greystar has raised more than $4.5 billion for its flagship value-add fund series. GEP X reached its hard cap and was oversubscribed with both new and existing institutional investors.
"As we move later into the real estate cycle, we are seeing that global institutional investors are increasingly flocking to more defensive investment strategies with integrated managers," Kevin Kaberna, executive director of Greystar's US Investment Management business, says in prepared remarks.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com 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.
