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F r o m W i k i p e d i a , t h e f r e e e n c y c l o p e d i a
Robert Alan Faith (born 1963/1964) is an American businessman, and the founder, chairman and chief executive officer (CEO) of Greystar Real Estate Partners .[2]
Early life [ edit ]
Faith grew up in Oklahoma, and earned a bachelor's degree in petroleum engineering from the University of Oklahoma ,[3] intending to pursue a career in the oil industry as his father had. When a recession made petroleum engineer jobs less available upon graduation, Faith opted instead to get an MBA from Harvard University ,[4] graduating in 1986.[5]
Faith started his career at the Trammell Crow Company , a real estate development firm[3] where he eventually became a partner.[6] In 1991, he co-founded Starwood Capital Group with Barry Sternlicht ,[4] a classmate from Harvard. The company focused on acquiring foreclosed multifamily properties in the aftermath of the savings and loan crisis .[1]
In 1993, Faith founded Greystar in Houston, Texas.[7] [1] While CEO of Greystar, Faith served as Secretary of Commerce for the State of South Carolina from 2002 to 2006.[8] During his tenure, Faith reorganized the department's 19-division structure into four departments.[9] In 1996, he co-founded Homegate Hospitality, a developer of extended-stay hotels, with John Kratzer, a former colleague from Trammell Crow. The company was acquired the next year.[10] Faith moved both his residence and Greystar’s headquarters to Charleston, South Carolina, in 1998.[4] Under Faith's leadership, Greystar acquired Education Realty Trust in 2018 for $4.6 billion,[11] making the company the second largest student housing provider in the United States.[12] Other major acquisitions during Faith's tenure include the property management arm of Alliance Residential Co. in June 2020,[13] Thackeray Partners in May 2021,[14] [15] and Fizzy Living in December 2021.[16] Faith is also expanding the business beyond multifamily rental properties to sectors including life sciences,[17] purpose-built single-family rentals,[18] and industrial.[15] As of November 2021[update] , Greystar is the largest operator of apartments in the United States, with $45.1 billion of assets under management .[19]
Recognition and related activities [ edit ]
As of 2005[update] , Faith was a member of the Urban Land Institute and the National Multifamily Housing Council.[9] In 2020, Faith was nominated to the real estate group of the Great American Economic Revival Industry Groups ,[20] a bipartisan panel convened by President Donald Trump during the COVID-19 pandemic .[21]
In 2018, Faith appeared on the Observer list of the 59 most powerful people in residential real estate.[22]
In 2022, Faith ranked #32 on the Commercial Observer Power 100 list of commercial real estate's most powerful people.[23]
Personal life [ edit ]
Faith resides in Charleston, South Carolina , with his family.[1] He is married to interior designer Muffie Faith, and they have three children.[24]
References [ edit ]
^ a b "Robert Faith of Greystar Gives Keynote at Cornell Real Estate Conference" . cornell.edu . 27 October 2015. Retrieved 18 October 2018 .
^ a b c Rosta, Paul (18 October 2012). "Bob Faith's Mission to Buy, Build, Manage Drives Greystar" . Commercial Property Executive . Retrieved 7 March 2020 .
^ "My Story: Bob Faith" . Bisnow . 13 March 2013. Retrieved 7 March 2020 .
^ Broffman, Wendy (1 August 2014). "Game changer" . Yield Pro . Retrieved 8 March 2020 .
^ "5 Most Powerful in Multifamily" . www.multifamilyexecutive.com . Archived from the original on 2014-11-10. Retrieved 2020-04-18 .
^ "A history of Faith" . Multihousing Pro Magazine . Retrieved 2018-10-22 .
^ a b "Bob Faith" . Trade & Industry Development . 30 June 2005. Retrieved 8 March 2020 .
^ Ballon, Marc (1 November 1997). "Hotel Chain Bags Wealthy Acquirer" . Inc . Retrieved 8 March 2020 .
^ Banister, Jon (20 November 2018). "Greystar CEO Bob Faith On $4.6B EdR Acquisition And His Outlook For Multifamily" . Bisnow . Retrieved 20 March 2021 .
^ September 21, John Jordan (21 September 2018). "Greystar Completes $4.6B Purchase of EdR" . GlobeSt . Retrieved 20 March 2021 . {{cite news }}
: CS1 maint: numeric names: authors list (link )
^ Isaacson, Greg (3 June 2020). "Greystar Acquires Alliance's Property Management Arm" . Multifamily Real Estate News . Retrieved 11 October 2022 .
^ "Greystar closes on remaining 55% interest in Thackeray Partners | News" . Institutional Real Estate, Inc . 18 May 2021. Retrieved 11 October 2022 .
^ a b Ou, Christie (1 December 2021). "Greystar makes industrial push into new region" . PERE . Retrieved 11 October 2022 .
^ Lowe, Richard (16 December 2021). "ADIA and Greystar to invest £2.2bn in London housing" . IPE Real Assets . Retrieved 11 October 2022 .
^ Shaver, Les (9 July 2021). "CPP Investments and Greystar Form Life Sciences Development JV" . GlobeSt . Retrieved 11 October 2022 .
^ Campbell, Kyle (8 December 2021). "CPP commits $840m to single-family rental JV with Greystar" . PERE . Retrieved 11 October 2022 .
^ Pollack, Lynn (10 November 2021). "Greystar Sells Flagship $3.6B Multifamily Fund to Ivanhoe Cambridge" . GlobeSt . Retrieved 11 October 2022 .
^ "President Donald J. Trump Announces Great American Economic Revival Industry Groups" . Trump White House Archives . Trump White House. Retrieved 22 April 2023 .
^ "Charleston CEO part of Trump's economic revival group" . Post and Courier . Charleston. April 27, 2020. Retrieved April 27, 2020 .
^ Daisley, Margaret; Rogers, Alison (28 September 2018). "2018's Most Powerful People in Residential Real Estate" . Observer . Retrieved 11 October 2022 .
^ Coen, Andrew (16 May 2022). "Bob Faith" . Commercial Observer . Retrieved 11 October 2022 .
^ Hunt, Stephanie (June 2008). "Old Village: Interior Designer Muffie Faith's Historic Manse" . Charleston Magazine . Retrieved 20 March 2021 .
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