Curious to hear thoughts on those you’ve interacted with at the firm. Obviously one of the largest REPE firms, but more so wondering about the caliber of employees. Would you get looks from other MF if you put in time at Greystar? See they have open positions, hard to justify the Charleston living…
Any thoughts/opinions on the firm is appreciated.
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Based on the most helpful WSO content, there are mixed opinions about Greystar. Some believe that Greystar is going to be a leading real estate company in the coming decades. They have shown great success and ability to scale in areas like third-party property management, development, acquisitions, and have branched off into international, niche markets, and services startups. They have also shown the ability to be a great partner to JV equity partners as well as direct investments with LPs.
However, there are also some concerns about the quality of their management. Some users have noted that the quality of their management has declined over the last decade due to a lack of ability to control quality while scaling. There have been instances where Greystar was replaced as the operator/manager due to poor performance and negative tenant feedback.
As for the caliber of employees, the development team is generally solid, but very young. It's also worth noting that experiences can vary, and these are just some opinions shared on the forum.
As for getting looks from other MF if you put in time at Greystar, it's hard to say definitively. It would likely depend on your specific role, performance, and the individual hiring decisions of the other firms.
Remember, Charleston has its own charm and lifestyle, so consider if it aligns with your personal preferences and lifestyle.
In the end, it's always a good idea to do your own research and reach out to current or former employees if possible to get a more comprehensive understanding.
Sources: Greystar -Any info?
I know way too many people who do development for Greystar across multiple parts of the country. Short of complaints about working for a massive company, I really only hear good things. Mid to mid-high level people actually get parts of the deals (which you won't find at other large MF developers like Mill Creek or Crescent), pay is solid, they have no fear of promoting young people, etc.
Charleston is a cool town, but they also have offices throughout the Southeast, Southwest, Denver, etc.
Is that really the case? I would have thought Mill Creek being a Crow spinoff would mean they kept the profit sharing structure in place as incentive. Obviously not every firm is going to be as profit sharing based as somewhere like TCC, but seems like a big drawback to working there compared to most other shops
Hah, unless my buddy working there (VP/Director level) is getting scammed, yes. He gets a relatively big base and bonus, but no participation.
The MD of the office, who used to work with me, does.
Monkey bot summarized a lot of what I said in the past. However, it doesn’t know the meaning of management is in the property management context, not executive management of Greystar.
While they are a huge REPE firm, you must always remember that everything is secondary to their management business.
Other than that it is a great firm. You just have to get over the fact that you will play second fiddle to propety management and that if economics get tough that the usual strucutre of capital allocation being the last to go is the opposite here. It is usually pretty early on in their cuts.
Source: I have dozens of friends who work(ed) for the company across all operating arms.
Abysmal pay. Fratty culture, highly political and atrocious career growth/progression.
Charleston office is next level frat! Be a KA, SAE, etc or get recruited through relationships post mba and you will be senior director in 2-years. Very political if you are not in the circle.
Sounds like Crow
Can’t speak to their culture or compensation but everyone I’ve worked with has been top notch.
"Would you get looks from other MF if you put in time at Greystar?" YES
Perhaps the best reason to consider them. For example, if a hiring manager is looking for an asset manager or regional manager, the one who spent three years at Greystar with an easy portfolio will get the call before the one at a small firm who ran a big portfolio excellently.
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