Looking for updated info/insight on Greystar, as other threads are at least a year and a half old and they've recently expanded significantly with major deals such as EDR/raising a ~$2b value-add fund right now.
What are people's opinions on starting a career at Greystar in their Investment Management division (Acquisitions and Asset Management)? How do they compare to the typical REPE firms like Blackstone/Starwood? And if anyone has info on comp?
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Strong acquisitions/development platform. Dogshit third party management company.
Solid shop to cut your teeth with early on in your career. Interact with their West Coast guys quite a bit and bright group that always seems to find creative ways to do a deal like the EDR portfolio you mentioned. With Bob Faith behind them they are always raising money and have a warchest at the moment (but who doesn't). Bob got his start at Trammell in the early 90's then teamed up with Barry Sterlicht at Starwood who was his HBS pal so lots of upper management are MBA guys with a focus on pedigree similar to the Trammell structure. He left and bought the Greystone Group to build a sizable portfolio fast then formed Greystar. (Greystone Group + Starwood = "Greystar").
A few of the guys I know who've been there 5-6 years seem to plateau at the managing director level, which isn't a bad thing but from what I understand don't get a piece of the pie like other shops offer at the same level. I would say Blackstone and Starwood is probably a better brand name but with the volume Greystar has been doing you can't go wrong. Comp for analyst/associate is in-line based on experience/education (I interviewed with them for 1st year analyst years and years ago and comp was ~80k with 20% bonus if I remember) but again once you hit higher tiers you're expected to either go b-school route (unless you came on as an MBA) or better just be a flat out rainmaker to move-up.
To answer your question if you have the option to start out in acquisitions or development here congrats, a lot of people would love the opportunity.
Their brand has improved the past 10 years. In another 10 years, they will be the top global multi family company and one of the best in CRE.
Hard to compare them to BX and Starwood, as they are a Sponsor with REPE capabilities, whereas mega REPEs tend to invest with sponsors and or have asset specific asset management teams. So if you want to learn the blocking and tackling of value add operations and understand the investment process, Greystar is an excellent place to work. Post-MBA associate is the best entry point, but analyst is great.
I am a bit biased towards starting as an analyst for a diversified mega REPE though, given the choice just because I felt the higher up view from the capital perspective is even more generalist and provides more optionality and deal exposure (from a breadth perspective). Depends how much you get to touch the real estate and interact with partners on the analyst level.
Great exit options. You’ll learn a lot of the technical skills to start your own shop. For some of you, that’s your goal, to be the next Bob Faith - shot caller, big baller, Mr Worldwide. Good luck.
Their buses are so old and dirty. I prefer Amtrak usually