The Finger Cos., a Houston-based multifamily development and management company, has sold several properties to a venture led by South Carolina-based Greystar.

The deal included more than 20 garden and midrise properties from The Finger Cos.' national holdings, the company said Oct. 19. The new owners will retain all of the properties' on-site employees.

Since The Finger Cos. was founded in 1958, the company has retained ownership and management of most apartment project it has developed, according to the Oct. 19 announcement.

Neither the list of properties sold nor the number of properties that The Finger Cos. retained after the sale were immediately available. The Finger Cos.' website currently lists 34 properties, including 27 in the Houston area, three in the Atlanta area, three in the Chicago area and one in Dallas.

The Houston Business Journal has reached out for more information.

“Today’s announcement is a direct reflection of the talented and devoted family of long-term employees who have consistently upheld the highest standards in the industry,” said Marvy Finger, founder, president and CEO of The Finger Cos. “The agreement to sell part of our portfolio to the venture spearheaded by Greystar will allow that legacy to continue uninterrupted.”

The Finger Cos. was represented by a JLL Capital Markets Investment Sales Advisory team led by Houston-based Executive Managing Director Scott Galloway and Senior Director Dustin Selzer along with Dallas-based Senior Managing Director Roberto Casas. Names of the advisers representing the Greystar-led venture were not immediately available.

“Marvy is one of the true icons of the multihousing industry,” Galloway said. “These assets not only come with prime locations, but they also come with the highest-quality product offerings and the best management team in the business. They perfectly complement Greystar’s national portfolio.”

Some of Finger’s projects were gamechangers in Houston. His tallest and most ambitious project, One Park Place, was the catalyst for the new residential projects under development in downtown Houston today, the Houston Business Journal previously reported. Finger was named the Lifetime Achievement Award recipient for the HBJ's 2015 Landmark Awards.

As of 2015, The Finger Cos. had developed nearly 100 apartment projects in eight states, the HBJ reported at the time. Now, the company expects more to come.

“We are perfectly positioned to do exciting new projects that will propel the company far into the future,” Finger said in the Oct. 19 announcement.

JLL Capital Markets announced today that it arranged $59.95 million in construction financing for the Union on Broadway student housing and retail development located at 476 E. Broadway St. in Eugene, Oregon, and a $86.17 million construction loan for the Lakeview student housing project at 4126 12th Ave. N.E. in Seattle, Washington. 

JLL worked on behalf of the owners of borrower Greystar and Star America to secure the two loans with Pacific Western Bank. JLL also represented Greystar to secure JV equity and instigate the partnership for both transactions with Star America.   

The Union on Broadway development will consist of 357 units, with 608 beds and averaging 561 square feet, with the full development about 338,130 square feet sitting on 1.1 acres. When complete, units will be fully furnished, contain private bedrooms and bathrooms, have in-unit washers and dryers and will include Internet. Community property amenities include a premium fitness center, study lounges on every floor, courtyards, conference rooms, activity and game rooms and an outdoor rooftop with a pool, firepits and grills. There will also be ground retail with outdoor seating.  

A major economic driver in the local community, the university is headed toward a $3 billion target in fundraising for its Phil and Penny Knight Campus for Accelerating Scientific Impact, allowing more funds for the program and faculty and administration recruitment, and has invested $250 million into student athletic facilities. 

Located 500 feet from the University of Washington, the Lakeview development will provide 226 (597 beds) studio, two-, three- and four-bedroom units for individual and double occupancy rooms, ranging from 390 to 1,147 square feet. The development will total 20,610 square feet and contain amenities such as study lounges, a premium indoor fitness center, enclosed bicycle room, outdoor deck with fitness equipment, library with study rooms, sky lounge with a media center and more. 

This development is complimentary of the university’s recent 2019 Campus Master Plan that promotes 6 million new gross square feet of development, identifying 86 potential nearby projects across the campus to fulfill the demand of student housing. 

A leader in the sector, JLL has closed over $12.6 billion in student housing transactions since 2011.

JLL’s Capital Markets team representing the borrower was led by Senior Managing Director Charles Halladay, Managing Director Jordan Angel, Senior Director Chris Ross, Directors Teddy Leatherman and Stewart Hayes and Analyst Taylor Gimian. 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.

Greystar Real Estate Partners, LLC (“Greystar”), a global leader in the investment, development, and management of high-quality rental housing properties, today announced the acquisition of the property management business of Alliance Residential Company (“Alliance”). The combined businesses will continue to deliver best-in-class services for clients, partners and residents under the Greystar brand.

Comprising more than 500 multifamily properties and nearly 130,000 primarily Class A units across 21 states, the Alliance portfolio and its diversified base of clients will complement Greystar’s leading property management platform to deliver numerous benefits that enhance property operations, services and offerings. Over the past 20 years, Alliance has become the number one multifamily developer and the fourth largest management company in the United States.

As the global leader in rental housing and the top manager of U.S. apartments 1, Greystar has a well-established track record of acquiring and integrating strategic portfolios and rental housing real estate companies. The combined portfolio will increase Greystar’s U.S. footprint by approximately 25 percent and significantly complement the firm’s current presence in key western markets, such as the San Francisco Bay Area, Los Angeles, Phoenix, Denver and Las Vegas, in addition to the Northeast and Pacific Northwest. Through this transaction, Greystar will grow to nearly 19,000 team members overseeing a portfolio of more than 2,400 communities and 660,000 apartment units across 42 U.S. states and 13 countries.

“We only consider acquisitions of companies that are culturally compatible and fit our long-term strategic objectives. In Alliance, we’ve found both. Alliance is held in the highest regard in our industry, operates in some of the best markets across the country, and has some of the most talented people in rental housing,” said Bob Faith, Founder, Chairman and CEO of Greystar. “Even during severe economic downturns, we believe in the resilience of rental housing and we are committed to continuing to grow our company. This acquisition reflects our confidence in that and is a unique opportunity to acquire a strong business. We look forward to welcoming the Alliance team to the Greystar family.”

Alliance, the leading developer of multifamily units in the U.S. for the last two years, will streamline its focus on development, construction and acquisition across the multifamily, workforce and senior housing segments. As part of the deal, Greystar will provide management services to Alliance’s multifamily acquisition and development businesses going forward.

“We are thrilled to launch this long-term strategic relationship with Greystar, combining best-in-class residential managers, complementary portfolios and unrivaled expertise to create the leading property management company in the multifamily industry,” said Alliance Residential Chairman and CEO Bruce Ward. “Greystar’s global reach, corporate culture and seasoned leadership team made this milestone a clear next step for Alliance, our residents, investors and associates alike.”

“This transaction underscores Greystar’s unwavering commitment to providing residents and clients with the industry’s leading property management platform,” said Andrew Livingstone, Executive Managing Director responsible for Greystar’s Property Management Group. “In Alliance, we see an impressive team with a similar operating philosophy, core values, and ‘people-centered’ approach to property management, and this transaction provides us with the ability to capitalize on a number of innovative opportunities in today’s dynamic environment. Greystar will continue to set the standard for operational excellence by leveraging our local market knowledge, economies of scale and innovative, technology-based solutions.”

Financial terms of the transaction were not disclosed.

Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. Headquartered in Charleston, South Carolina, Greystar manages and operates an estimated $200 billion+ of real estate in nearly 200 markets globally including offices throughout the United States, United Kingdom, Continental Europe, Latin America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing more than 660,000 units/beds globally, and has a robust institutional investment management platform with approximately $35 billion of assets under management, including nearly $15 billion of assets under development. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit .

Alliance Residential Company is the most active multifamily developer and fourth largest multifamily manager in the US. Alliance is focused on the development, construction and acquisition of residential communities, including development of high profile Broadstone communities as well as workforce housing through its Prose brand. Additionally, Alliance develops Marvelle active adult communities and Holden senior housing communities. Alliance is headquartered in Phoenix with 35 regional offices throughout the West, Southwest, South-Central, Southeast, Mid-Atlantic and Northeast. 

PORTLAND, ORE., August 28, 2019 – JLL announced today that it has closed the sale of Avana Orenco Station, a 264-unit, garden-style multi-housing community in Hillsboro, Oregon.

JLL marketed the property on behalf of Greystar and procured the buyer, Jackson Square Properties. The property was acquired free and clear of existing financing.

Avana Orenco Station is located at 6710 NE Vinings Way less than half of a mile south of the Intel campus, which is home to 20,000 local jobs, and within walking distance to the MAX Light Rail Blue Line, which provides access into downtown Portland, downtown Hillsboro and other employment centers throughout the MSA. With direct frontage along NE Cornell Road, the property also provides residents convenient access to retailers at Orenco Station as well as New Seasons Market, Whole Foods and Costco.

The community consists of 12 residential buildings comprising a mix of 156 one-bedroom, 100 two-bedroom and eight three-bedroom floor plans averaging 925 square feet. Unit features include quartz countertops, stainless steel appliances, plank flooring in the living spaces, nine-foot ceilings and full-size washers and dryers. Common area amenities include a swimming pool and spa, grilling areas, firepit, gazebo, fitness center, community lounge with Wi-Fi and pool table, business center and dog park.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Ira Virden, an Oregon-licensed real estate salesperson, and Senior Director Carrie Kahn.

MIAMI, FL – April 2, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the $19.25 million sale of a four-acre multi-housing development site in Downtown Doral, a 250-acre mixed-use community in Doral, Florida.

HFF represented the seller and master developer of Downtown Doral, Codina Partners, in the sale of the parcel to Greystar.  The HFF investment advisory team representing Codina Partners included executive managing director Manuel de Zárraga, managing director Jaret Turkell, senior director Maurice Habif and director Simon Banke.  HFF has closed several sales within Downtown Doral, including land sites set for an assisted living facility and an active adult residential development.

“Greystar is a world-class institution and we are pleased that they are developing a second project in Downtown Doral, as well as managing our new multi-family tower, 5250 Park,” said Ana-Marie Codina Barlick, CEO of Codina Partners.  “Thank you to HFF for their help with this transaction.”

Downtown Doral is located off of NW 87th Avenue and NW 53rd Street and comprises approximately 70 shops and restaurants; a business district with almost one million square feet of Class A office space; 5,000 luxurious residential units, including 5350 Park condo tower, 5250 Park distinctive apartments, and Canarias single-family and townhomes in The Residences at Downtown Doral; Downtown Doral Charter Elementary School, a top-rated, bilingual charter elementary school; Downtown Doral Charter Upper School, a 6th through 12th grade charter school that is currently under construction; Doral Government Center, a LEED-certified city hall; and public green spaces adorned with world-class art pieces.

Greystar’s planned multi-housing project, designed by MSA Architects, will feature 385 luxury apartments in a six and eight story building.  The amenities will include a rooftop sky lounge amenity deck, club lounge, expansive fitness center, two swimming pools, and multiple courtyards with a park and yoga deck.  The site is positioned on the south side of the Downtown Doral master plan along 41st Street and 87th Avenue.

“We are excited to be part of the Codina vision for this premier mixed-use development project,” said Lewis Stoneburner, managing director of Greystar’s Florida development business.  “We also feel privileged to be doing business with such an incredible group of people at both the Codina organization and HFF.”

About Downtown Doral
Downtown Doral is Miami’s premier town center, a vibrant community of culture and commerce, located at the heart of access to almost everywhere.  Neighborhoods, offices, homes, an award-winning school, restaurants and shops that offer a new quality of life—totally walkable, connected, artfully designed, green and gracious.  The 250-acre mixed-use development features approximately 70 shops and restaurants; a bustling business district with almost one million square feet of Class A office space; 5,000 luxurious residential units, including 5350 Park condo tower and Canarias in The Residences at Downtown Doral; Downtown Doral Charter Elementary School, a top-rated bilingual charter elementary school; Downtown Doral Charter Upper School; Doral Government Center, a LEED-certified city hall; and public green spaces adorned with world-class art pieces.  Learn more at www.downtowndoral.com or follow @DowntownDoral on Facebook and Twitter and @DowntownDoralLife on Instagram.