Greystar to Manage 8,000-Unit Portfolio
The company will take over as the current operator exits the business.
Greystar is set to assume management of Lantower Residential’s nearly 8,000-unit portfolio as the H&R REIT subsidiary exits the property management business.
Under the arrangement, Greystar will assume management responsibilities for 23 communities totaling 7,895 units. Two of the properties are still under construction, with leasing expected to begin this quarter.
The phased transition is scheduled to start Feb. 17. A part of Lantower’s on-site and property leadership staff is expected to move to Greystar as the communities are brought onto its management platform.
H&R REIT ranks among Canada’s largest real estate investment trusts. Across the U.S. and Canada, the REIT holds ownership interests in approximately 21.2 million square feet of residential, industrial and office assets.
For Greystar, the agreement adds to a management platform that spans about 1.1 million multifamily units and beds across more than 3,900 communities, according to its website, making it the largest apartment management company in the U.S.
Greystar’s growing management platform
Last year, Greystar expanded its management platform by taking over Grand Peaks’ roughly 11,000-unit portfolio across seven states, including Florida, Colorado, Texas and Arizona. And in 2024, the firm acquired Wood Partners’ property management arm, adding more than 140 communities totaling over 38,000 apartments to its collection.
Taken together, the moves underscore a broader trend of consolidation in property management, as owners and operators reassess whether to keep the management in-house or outsource it to larger platforms with greater scale and infrastructure. Operators are also placing greater emphasis on process efficiency and technology-enabled resident service.
