CHARLESTON, S.C.--(BUSINESS WIRE)--Greystar Real Estate Partners, LLC (“Greystar”), a global leader in the investment, development, and management of rental housing, is pleased to announce that it has filed an application to place a development capital certificate (CKD) on the Mexican Stock Exchange (BMV).
Greystar is seeking to raise up to MXN 4.0 billion (approximately US $194.0 million) in 2017 from Mexican pension funds to develop and manage high-quality rental residential housing in key Mexican markets including Mexico City, Monterrey, Guadalajara and the Bajío region.
“Greystar’s planned capital raise in Mexico reflects our commitment to further advance the company’s international growth strategy and our objective to build world-class residential rental housing globally,” said Bob Faith, Chairman and CEO of Greystar. “Our history in the market together with our rental housing expertise positions us well to capitalize on the many opportunities we see throughout the country.”
Greystar entered the Mexican market in 2012 and has since established a strong local presence. With an office in Mexico City that houses dedicated investments, development and operations teams, Greystar is currently overseeing the development of more than 1,500 residential units and has built a pipeline exceeding additional 1,500 residential units.
“We will leverage our world-class local team and the support of our global platform to source and execute the best residential development opportunities in the market,” said Eduardo Orozco, Greystar’s Managing Director of Investments for Latin America. “We are excited to work with local Afores to generate attractive returns contributing to Mexican employee pensions.”
Greystar aims to leverage its rental housing expertise and deep local market knowledge to generate attractive risk-adjusted returns for its investors and an unmatched living experience for its residents. Globally, Greystar operates more than 400,000 rental units across 160 markets with an ownership interest in assets worth over USD $14.0 billion.
Greystar is a leading, fully integrated real estate company offering expertise in investment management, development and property management of rental housing properties globally. Headquartered in Charleston, South Carolina with offices throughout the United States, Europe, and Latin America, Greystar is the largest operator of apartments in the United States, managing over 400,000 units in over 160 markets globally. Greystar also has a robust institutional investment management platform dedicated to managing capital on behalf of a global network of institutional investors with over $14 billion in gross assets under management including $6.9 billion of developments underway. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world class service in the rental housing real estate business. To learn more about Greystar, visit www.greystar.com.