Greystar has acquired third-party living and mixed-use operator Native Communities from Ares Real Estate funds founder Guy Nixon and management shareholders, for an undisclosed sum.
The deal forms part of Greystar’s expansion of its third-party property management business across Europe. Greystar said the deal would strengthen its third-party management capability at a time when “investors and asset owners increasingly seek operating partners with scale, governance and consistency”.
Native Communities operates 37 residential and mixed-use assets with more than 9,000 homes across England, Scotland and Wales. The business includes 177 onsite team members and a 47-person corporate team.
When the deal is completed, Native Communities’ operations will be merged with Greystar’s third-party property management business, with teams based in Manchester and London.
The deal follows Greystar’s recently completed acquisition of Dublin-based operator MD Property & Living.
Mark Allnutt, European executive director of Greystar, said the transaction “strengthens our operating depth and enhances our ability to support clients as their portfolios grow across markets and sectors”.
“We are pleased to welcome Native’s talented team members to Greystar. Their experience and client relationships will be central to our continued growth,” he added.
“As investment in Europe’s living sectors increases, clients require operating partners that combine local execution with real scale. We are well positioned to deliver that with consistency and strong governance.”
Across Europe, Greystar has amassed a portfolio of almost 70,000 apartments across eight markets, including over 7,000 homes already managed on behalf of third-party investors and asset owners.
Nixon said: “Native’s success over the past 20 years has been built on a strong focus on execution, service quality and long-term client relationships. Joining Greystar combines those strengths with a global rental housing platform with the scale, experience and infrastructure to strengthen the support we offer to our clients across the UK and Europe.
“For our clients, this means continuity of service alongside access to deeper expertise, broader insight and a platform designed to grow with them over time. For our teams, it is an opportunity to be part of a business that shares our values and ambition as we enter the next phase of growth together.”
At the end of last year, Greystar appointed Thomasin Renshaw as managing director of UK development.
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