Terms of the deal were not disclosed.
Greystar, based in Charleston, S.C., manages more than 385,000 apartment units in major markets throughout the United States and abroad. It manages Solana 3100 Pearl, luxury apartments under construction in Boulder, Arista Uptown Apartments in Broomfield and the Reserve at Centerra in Loveland.
Dallas-based Riverstone manages Heritage Circle and Settlers Creek in Fort Collins and Lincoln Place in Loveland. Terry Danner, in partnership with Christy Freeland, established Riverstone in 2006 through a buyout of Trammell Crow Residential Services.
“Riverstone is one of the nation’s most highly respected multifamily firms, and we are proud to have them join our Greystar family,´ said Bob Faith, Greystar’s chairman and chief executive. “Combining forces makes us even stronger, especially in local markets.”
Greystar has been among the largest managers of apartments in the United States for a number of years. During its 20-year history, the company has integrated a number of major operators, including the management arms of JPI, Archon and Glacier.
In addition to property management, the company also has an investment management and development platform and recently expanded its operations internationally to Mexico and the United Kingdom.