CHARLESTON, S.C. — Greystar Real Estate Partners LLC has agreed to sell a 30-property multifamily portfolio for approximately $3.6 billion. Eastdil Secured served as the exclusive financial advisor to Greystar. Canadian-based Ivanhoé Cambridge purchased the portfolio, which includes 10,000 units, according to several media outlets.
The Greystar Equity Partners IX fund was formed as part of Greystar’s flagship U.S. rental housing value-add fund series in which the company focused on acquiring well-located, institutional-quality apartment communities in target markets throughout the country. Since its launch in 2015, the fund series raised $5 billion, and it includes a group of global institutional investors from North America, Continental Europe and Asia-Pacific.
Greystar is a Charleston-based real estate firm that manages and operates approximately $220 billion of real estate in more than 210 markets across the world. The company manages over 748,000 multifamily units globally.