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June 11, 2020

Greystar buys Alliance's management arm

By JOURNAL STAFF

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Alliance is developing the 275-unit Broadstone NE project near University Village.

Multifamily developer and manager Greystar, of Charleston, South Carolina, announced the recent acquisition of Alliance Residential's management arm. Terms were not announced. Both are active developers in the Puget Sound market. Alliance, of Phoenix, is handing over 500-plus properties with about 130,000 units for Greystar to manage. Ownership remains unchanged. The addition grows Greystar's national management portfolio to about 2,400 properties and 660,000 units.


 
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