Houston—Asset Plus Companies, a Houston-based third party management company, announced the acquisition of Greystone Asset Management, the fourth largest multifamily property management company in Houston. The two companies officially began doing business together on July 1, 2013.
From a logistical standpoint, Greystone will still function as a separate entity from Asset Plus Companies. Although Asset Plus Companies now owns 100 percent of Greystone, they plan to treat the transaction much more like a merger. Both companies are confident that the union will create a stronger, faster, more capable company.
Together with Greystone, Asset Plus manages a portfolio of 194 properties, exceeding 41,000 units located throughout the United States.