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UK: Greystar has acquired third-party management company Native Communities from Ares Management.
Native operates a portfolio of 37 residential and mixed-use assets comprising more than 9,000 homes across England, Scotland and Wales. The business employs 177 onsite staff and a 47-person corporate team.
Guy Nixon, founder and CEO of Native, said: “I’m delighted to announce that today marks the next phase of growth for Native Communities following our acquisition by Greystar (International), a global leader in the investment, development and management of high-quality rental housing. Native has emerged as a leading UK third-party living and mixed-use operator through driving asset-level performance for over 25 clients. Over the past decade, Native’s portfolio has grown from 5 assets to 37, totalling over 9,000 homes across England, Scotland and Wales. Native’s platform is built on disciplined operational execution, NOI optimisation, rigorous building safety and compliance and forensic client reporting.”
“Greystar and Native bring deep local operating expertise and client relationships together with the scale, systems and insight of a global organisation, creating a dedicated pan-European third-party property management platform serving clients from single assets to complex, multi-country portfolios. The third-party property management business and Greystar’s owned investment portfolio will operate as separate business lines, ensuring integrity of interests and a clear focus on long-term performance. This is a significant moment for Native and a natural progression in the evolution of the business, positioning us to deliver performance at greater scale and expertise. My personal thanks to the exceptional senior leadership team at Native who have worked closely with me over the years to build the platform and who will remain with me as we join forces with Greystar. My thanks also to the Native board (Aimée Pitman, Lauren Wilson, & John Ruane) and Ares Management for supporting our growth over the last 10 years.”
Mark Allnutt, executive director – Europe at Greystar, said: “The acquisition of Native Communities marks an important step in expanding our third-party property management business across Europe. It strengthens our operating depth and enhances our ability to support clients as their portfolios grow across markets and sectors.”
Bobby Faith, managing director – third-party property management, Europe, at Greystar, added: “Native has built a highly regarded third-party property management business with strong client relationships and a talented team, and we are excited to bring our organisations together. This transaction accelerates a strategy already underway at Greystar, allowing us to scale third-party property management in a deliberate and disciplined way.”
Highlights:
• Greystar has acquired third-party management company Native Communities from Ares Management
• Native operates a portfolio of 37 residential and mixed-use assets comprising more than 9,000 homes across England, Scotland and Wales
• The business employs 177 onsite staff and a 47-person corporate team
