2009 Issue 3
IN THIS ISSUE: Welcome!
2009: Year in Review
2010: Where are we headed
Greystar in the News
“The American Dream – Bob Faith
Team Member News
Final Thoughts 14
Welcome! Welcome to the 2009 Year End Edition of Inside Greystar. As you are reading this, I have no doubt you are also thinking of the million‐and‐one last minute things you need to get done for the holidays and for New Years. While there are many things to be thankful for this season, on behalf of all of us who help lead this company, I wanted to be sure and let each of you know just how important you are to this organization. We endeavor each day to ‘redefine excellence in multifamily living’ and each member of our team is integral to achieving that goal. In this issue, among other things, we’ll hear CEO Bob Faith’s thoughts on the “American Dream” and how what we do each day is changing the way people think about living. If you really think about it, we endeavor each day to help provide something vitally important to people – a home. Best wishes for a safe and happy holiday season.
Andrew Livingstone Executive Director – Real Estate Services
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2009: Year in Review Right out of the gate, 2009 was a year of fast movement, hard work, diligent transition and continued confidence and growth for Greystar. Many team members have worked diligently this year to fully integrate JPI, improve operational and reporting capabilities across the platform, attract new clients, lend opinions to the industry, welcome new team members – and even in a year with many corporations struggling to remain afloat, Greystar was able to accomplish all of this while remaining profitable. Greystar’s leadership team is ever mindful of the economic environment and focused on maintaining profitability, protecting the balance sheet and positioning the company to seize opportunities to enhance our brand and capture market share. These goals have remained top of mind for the leaders of the company, and are reflected in some of this year’s accomplishments: ‐
A new Client Services framework has been created to coordinate business development and relationship management for strategic clients across our three operating units and four regions An increased focus on industry participation, association leadership and executive outreach have helped raise Greystar’s profile and position us as a thought leader. We have grown to become the 5th largest property manager in the country We are seeing the early benefits of our newly found truly national scale, institutional capabilities, and a more focused Client Services initiative. Our unique platform permits relationship managers to cross sell services such as construction management and consulting,
due diligence, receivership, and property management and serve to distinguish us from a crowded field. Greystar team members nationwide continue to give back to their communities at home. Community Service activities happened throughout the year and many of you volunteered your time to help.
2010 – Where we are headed? All signs point to 2010 being another challenging year for commercial real estate. With a ballooning federal deficit, growing unemployment, limited credit availability and declining rents, it’s hard to have a different short term perspective. Even in the face of tough economic times, Greystar is poised to continue building on this year’s successes as we enter 2010. Greystar’s 2010 business planning and budget process was very comprehensive and began early in the fall this year. Our diligent, thoughtful, and strategic business planning process involves hundreds of leaders from throughout the company coming together to decide where we’re going and how we’re going to get there. Overwhelmingly, all signs point to Greystar’s continued success in operational excellence nationwide in 2010. We plan for our business to grow more profitably, continue the pursuit and evaluation of acquisitions, look for strategic partnerships, and maintain a clear focus on our Six Pillars of Excellence in all that we do. One of our Advisory Board members circulated a thoughtful white paper in mid‐October entitled “Redefining the New Normal.” He concluded the paper with the following comment and question: “Remember there will be a glimpse of heaven by greystar.com | 2009 Issue 3 | Inside GREYSTAR 3
2011…getting there will be a challenge for some and a boom for others. What is your plan to win?” Greystar is focused on winning every day. If we continue to invest in our platform, hire world class employees and provide superior services to our clients and residents, our firm will continue to prosper.
Greystar in the News UpClose with Greystar’s Bob Faith GlobeSt.Com December 1, 2009 “As much as homeownership was pushed as vital to the "American Dream" over the past several years, it’s becoming clear that owning a home has turned out to be more of a nightmare for some. Experts from a variety of fields concur that more attention needs to be given to rental housing, a smaller yet critical component of the US housing market. One of those voices is Bob Faith, chairman and CEO of Greystar Real Estate Partners, a Charleston, SC‐based company that specializes in multifamily management, development and investment, overseeing more than 150,000 units in over 75 markets across the US.” “Given the economic, social and demographic shifts occurring in the country, he maintains that rental housing is increasingly becoming a more 4 Inside GREYSTAR | 2009 Issue 3 | greystar.com
fundamental part of the American Dream.”Now, more than any other time, we as an industry have the opportunity to redefine apartment living as the new American dream," Faith said during a speech he gave last month. Recently, Faith spoke with GlobeSt.com about this point, what needs to be done to bring the rental market back into the spotlight and what’s in store for the industry.” http://www.globest.com/upclose/upclose/182424‐ 1.html Despite Economy, Greystar is Pleased with Leasing Pace at Two New Houston Communities Multi‐Housing News October 12, 2009 Greystar Real Estate Partners recently completed and opened two luxury garden communities, Northgate Oaks Apartments and Yorktown Crossing, in the Houston market. The former opened for leasing at the end of September, while the latter opened at the end of August. “Given that we just opened, we have been pleased with our traffic and leasing velocity,” asserts Trent Conner, managing director in development at Greystar. “We’ve been pleased with the velocity and are projecting an 11‐ to 12‐month lease‐ up/stabilization time frame. We feel comfortable that we’ll get there.” http://www.multihousingnews.com/multihousing/ news/Despite‐Economy‐Gre‐1043.shtml MetWest International attracts Greystar as tenant Tampa Bay Business Journal September 11, 2009 Greystar Real Estate Partners is doubling its office size to 13,050 square feet and upgrading its space with a move to MetWest International in Tampa. The company, which is one of the largest multifamily managers in the nation, chose MetWest for its location and amenities, including its green construction, Andrew Livingstone, Greystar’s executive director, said in a statement. http://www.bizjournals.com/tampabay/stories/20 09/09/07/daily57.html
GreystarGIVING – A strategic partnership with St. Jude Children’s Research Hospital Greystar team members have a strong reputation of supporting their surrounding communities and helping those in need. Each issue of Greystar Insights is always filled with stories and photos about the most recent fundraiser, race or outreach project to help those in need. That is why we are so excited to announce a February 1, 2010 launch of an across‐the‐board charity effort that will allow us to pull together as a team – employees and residents – and take our philanthropic endeavors to a new level. The challenge was to find one national charity for the whole organization to support in the coming year. Why? Because we now have 4,400 employees and we manage 152,000 apartment units – the impact we can make could be incredible and we can all have a little fun in the process. This year’s national charity partner is the St. Jude Children’s Research Hospital headquartered in Memphis, Tennessee. Greystar has chosen to support St. Jude for some of the following reasons: St. Jude opened its doors in 1962 when the most common form of pediatric cancer had a 4% survival rate – because of their revolutionary research, St. Jude has played a pivotal role increasing that same survival rate to 94% today They are the only pediatric cancer research center where families never pay for treatments that aren’t covered by insurance
NO child is ever denied treatment because of an inability to pay They have a 45 year history of treating on average 5,700 children per year from around the US The hospital’s International Outreach Program transfers the progress achieved in the treatment of childhood cancer in developed countries to those with limited resources. As of July 2009, St. Jude has 20 partner sites in 15 countries, and more than 18,000 registered users from 169 countries have accessed Cure4Kids.org, an Internet‐ based distance learning initiative.
Greystar and St. Jude will be launching a secure website at www.stjude.org/greystargiving that will make tax deductible donations easy and safe. Every dollar counts and no donation is too small. We are encouraging the whole team, from individual Property Managers to corporate offices to implement creative ideas around the cause and encourage everyone they interact with to donate. As for the “a little fun” reference, a friendly competition between our 15 City Offices will accompany the fundraise so all community‐level donations will be tracked and aggregated by zip code into the appropriate City Office. The winning City Office will be determined by which one generates the highest average contribution per total units under management. The program will begin on February 1st and the winning City Office will be announced in mid‐July and awarded the following: 6 full months of bragging rights over the other 14 City Offices; 6 full months of ownership and display rights of the GreystarGIVING trophy; A catered lunch attended by Bob Faith and a representative from St. Jude Present the GreystarGIVING check to St. Jude on behalf of the whole company Think about this – if each of our team members and residents gave only 35 cents each, we would raise more than $50,000 for St. Jude. This is a big opportunity for Greystar to support a wonderful
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charity and to illustrate to the hundreds of communities we manage and live‐in that while we are a large national company, we care about our communities. More details about the Campaign and the competition will be made available during the month of January. Good luck and please work hard to bring the GreystarGIVING trophy home to your City Office!
significantly when jobs recover. We were then able to contrast those trends with the rhetoric and policies of public policy leaders who continue to push the idea of homeownership as central to the “American Dream.”
Renting is Fundamental to the ‘American Dream’ I recently had the opportunity to give the keynote presentation at the MPF Research Apartment Markets Conference in Dallas in November, and I decided to use this opportunity to weigh in on the idea that the “American Dream” is limited only to those that own a home. I wanted to make the point that dramatic social, demographic and economic changes are shifting the perception of the “American Dream” and that the multifamily industry, along with public policy leaders, need to pay attention. For at least two decades our leaders have been aggressively equating homeownership with the American dream. So why is the dream of homeownership shifting? Because the population and the trends lead to a dream of a lifestyle that is more affordable, comfortable and less stressful,” he said. “And we as an industry, every single one of us, must work hard to provide that lifestyle. The speech gave me a chance to highlight trends that demonstrate a change in the profile of those who rent, an increase in the demographics of those historically defined as renters and demand for apartments that rarely goes negative yet spikes 6 Inside GREYSTAR | 2009 Issue 3 | greystar.com
Bob Faith – Chairman and CEO I believe that now, more than any other time, we as an industry have the opportunity to redefine apartment living as the new American dream. The former talking points and mindset should not really apply anymore ‐ yet the public policies put in place to support this conventional wisdom continue. I am not anti‐homeownership. I do, however, believe this thinking and these policies are out of place and have encouraged people to bite off more than they can chew and have saddled homeowners with responsibilities for which they are in many cases, ill prepared. This is something everyone in our industry: property managers, investors, developers and vendors, should encourage. Why? Because for many people, homeownership is not, and perhaps never should have been, the dream. Simply having an affordable place to call home with the comfort, amenities and community that allow people to live with less stress and less responsibility – now that is closer to the “American Dream.”
Greystar as well as market itself to clients outside of the company.
Team Member News
Greystar Development Group –
(Submitted by team members nationwide)
Community Pillar ‐ Operation Home: Greystar Blitz
Lisa Morgan, Jaclyn Abro, Anita Godwin and Tami Blome organized the first annual Greystar Development Group Office Olympics to raise funds for the American Cancer Society. As coworkers watched and cheered, GDG project managers and management personnel competed in a series of events including rubber band archery, office supply paper‐boat regatta, and chariot races. Together the GDG Olympians raised more than $1,000 for the American Cancer Society.
From James Island, SC to McClellanville, SC more than 75 Greystar team members, Operation Home staff, and other volunteers made repairs and renovated homes including fixing roofs, building wheelchair ramps, installing new kitchens, rebuilding foundations and reinforcing flooring for some of the area’s most vulnerable families. The effort involved more than 1,500 hours of labor and more than 30 donors giving in excess of $40,000 in funds and materials.
In 2009 GDG completed construction on 6 Greystar owned assets in Texas, North Carolina, and South Carolina totaling over 2,000 units.
Greystar Management Services –
Greystar Investment Group – Greystar Investment Group (GIG) will close two transactions in December, both in the state of Florida. These deals mark the first transactions for GIG in 17 months. GIG leaders have been working hard to create a consolidated construction management platform to be unveiled in 2010 called “Capital Project Services.” This group will provide services both internally to
Tampa Corporate Office Going back to school can be financially stressful and in a lot of homes something has to give in order to provide backpacks, clothing, and school supplies for children. In these families it can be a choice of food or school items or rent. On Saturday, August 15th Metropolitan Ministries was able to help alleviate the worry of 2,778 children and their families so that they didn’t have to make that difficult decision ‐ the Greystar East Region Corporate office, along with the National office, donated a total of 4 large boxes of backpacks and supplies. In addition, we raised $190 and Greystar then matched it which resulted in a grand total of $380 donated towards Backpacks of Hope. greystar.com | 2009 Issue 3 | Inside GREYSTAR 7
East Region – Ronald McDonalds House On Thursday, August 27th, 13 members of the East Region’s accounting department along with Eddie Fletcher from Houston, joined together to cook dinner for children’s family members staying at the Ronald McDonald House in Tampa. Team members prepared a Mexican buffet consisting of; Mexican Lasagna, jalapeno pancakes, tamale pie, mini chimichangas, tacos, mini burritos, cheese stuffed peppers, beans, rice, salad and chocolate chip cookies. We feed about 25 people. Greystar‐East plans on continuing their support of Ronald McDonald House to help make a difference in the lives of families with hospitalized children.
Greystar East – Makes Dinner for a Worthy Cause The Ronald McDonald House of Tampa Bay offers families who are currently seeking pediatric medical treatment a way to stay together, in proximity to the treatment hospital, and be comfortable and cared for during their stay. Several team members in the Greystar East Corporate office donated their time and helped prepare a southern style home cooked dinner for the families staying here on Thursday, October 29th. The meal consisted of: Fried chicken, rotisserie chicken, mashed potatoes, macaroni salad, coleslaw, garden salad, fresh baked rolls, cookies, sweet tea and lemonade. Greystar East plans on continuing their support of Ronald McDonald House to help make a difference in the lives of families with hospitalized children.
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Mizner Court – First Annual Blood Drive The steady rain couldn’t stop the donations from residents and staff alike at Mizner Court. Thanks again to all participants and especially the Florida Blood Center, for hosting our First Annual Blood Drive. Not only does Florida’s Blood Center save lives, the presence of the BIG RED BUS reminds us all about the true definition of community and the gift of giving. City Palms – Habitat for Humanity Greystar and Continental teamed up to represent City Palms Condominiums September 26th at a Habitat for Humanity project in Jupiter. Community Manager Amber Fox Budney and Maintenance Technician Bill DiSimone were both in attendance. Habitat for Humanity’s mission is to provide simple, decent, affordable housing for low‐income families by working in partnership with those families. The program requires each recipient of a new home to invest 500 hours of ‘sweat equity’ into the building process. This allows the new resident to not only feel the pride of homeownership, but to truly be involved
through the development. Becoming active with Habitat for Humanity is a rewarding experience and an awesome way to benefit the community around us!
Charlotte – Habitat for Humanity On October 9th several Charlotte associates teamed up with the Habitat for Humanity to build a utility shed for soon to be home owners. This was a great team building experience and we were all happy to help give back to our community.
East Region Accounting – Fund‐Raiser Golf Tournament On Friday, November 13th, East Region Accounting Managers Greg Livingston & David Bordelon participated in a fund‐raiser golf tournament for Clearwater Christian College in Clearwater, FL, held at the Westchase Golf Club in Tampa, FL. Greystar sponsored a hole as part of the fund‐raising events, where money was being raised for the annual scholarship funds for this 501(c)3 organization. Though Dave and Greg did not win the tournament, they enjoyed great weather and a good time on the golf course. Charlotte – Race for the Cure On Oct. 3rd the Greystar Rackstars Team, composed of Greystar associates, family and friends, participated in the Susan G. Komen Race for the Cure in Charlotte, NC.
The Reserve at Mayfaire – Food Drive The Reserve at Mayfaire in Wilmington, NC held their 2nd annual food drive on November 20th 2009. This year the team doubled their amount collected with 731 pounds of food. The generous donations of the residents will supply 625 meals for their community.
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Atlanta Team – Children’s Miracle Network Torch Relay Community Service is one of Greystar’s 6 Pillars of Excellence in which we are dedicated to community and neighborhood involvement throughout the country. On October 24th, 2009 the Atlanta Team got involved in their local community by participating in the Children’s Miracle Network Torch Relay in Atlanta Georgia. The Torch Relay is a nationwide event in which we walked a 5k to benefit our local Children’s Hospital. We all had a great time and look forward to making this event an annual community service opportunity.
Haverly at Stone Mountain As many of you know Atlanta was drenched with inches and inches of rain a few months ago and caused major flooding. On September 16th 2009 at 10 pm Pamela Hanley, the manager of The Haverly at Stone Mountain was called to a flooding emergency by Rose Bush. The creek that runs parallel with the community rose 8ft and covered the playground and volleyball court. During the storm a sink hole formed in front of building 1500 which almost swallowed a car. They had 15 residents displaced and relocated to hotels during the storm. On September 21st at 3:00am the manager and staff was called back out to the property because the torrential rains again flooded the Haverly. The water rose so high that it flooded vehicles and tore down fencing. In total, 22 units were affected with flood waters. The Haverly team worked around the clock to ensure that residents had a place to stay and were treated with the utmost care and concern. Great job to the Haverly team for all your hard work!
CENTRAL / SOUTH REGION Four Winds – Christmas in October On Saturday October 10th, the whole team at Four Winds in Overland Park, KS joined forces with Christmas in October. This organization primarily helps elderly and disabled homeowners who lack the financial resources and skills to make necessary repairs to their homes. The Four Winds team assisted a member of the Overland Park community by securing a porch, scraping/repainting windows, re‐hanging doors, and painting trim.
Dallas – Race for the Cure The Dallas region participated in Komen Race for the Cure on October 17th. Around 60 team members signed up for the race or to work in our booth. We raised $9200 in donations!
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Kidney Walkers! We had a phenomenal turnout this past Sunday with over 25 Greystar Walkers! Greystar collected over $3,250 coming in the 3rd place for the team with the most raised and our very own Meredith Appling, from The Inverness, was in the Top 10 for individuals who raised the most money! Greystar Austin Team – Austin Heart Walk As part of our Community Pillar we participated in the Austin Heart Walk in support of the American Heart Association. Please note a couple of the interesting points below: 20 volunteers assisted in supporting our sponsorship effort in the Pet Zone where Greystar essentially had a parking lot full of puppy pools, prizes and promotional giveaways for all 60 team member actually walked in the event raising $3,869.64 in support of the cause Austin – K.I.S.S. Greystar Austin’s participation in the 2009 AAA Operation K.I.S.S. was a huge success. The Collection Brigade delivered three vehicles full of school supplies to the Operation K.I.S.S. drop off location on Thursday, August 20th. The total collection efforts yielded over 10,000 items for the kids of Austin! Greystar was estimated to be 25% of that!! Austin – Food Drive Efforts The Austin group has collected over $8100 in support of the Austin Apartment Association’s Doc and Gayle Young Food Drive. Such an amazing effort by such amazing people. This donation will help to feed over 230 families… something to be very proud of! Special thanks to David Moreno of Preserve at Travis Creek for collecting over $3000 and to the team at Preserve at Travis Creek for collecting over $1100. The Montage at North Point Apartments – Manager “Locked Up” The Manager Taffin Lampis, at The Montage @ North Point Apartments had her Leasing Professional Manny
Gonzales “Locked Up” at the Outback Steakhouse. This was to raise money for the Muscular Dystrophy Association. The Constable came to our office and picked him up on the 8th of October. They took him to the Outback Steakhouse.
Stone Park Apartments is Giving Back! Breast Cancer has hit close to home for the staff at Stone Park and they have reached out to their community to support the fight against Breast Cancer. "Think Pink because Stone Park Cares"! Houston – Food Drive Greystar Houston partnered with Houston Apartment Association (HAA) for the annual Channel 13 – Share Your Holiday’s Food Drive. Greystar’s Team distributed 18,000 bags to their residents in and around the Houston area and was responsible for collecting approximately 85% of the food collected on behalf of HAA. All food was delivered to the Houston Food Bank at Channel 13, which had a live telecast of the food drive.
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Houston Team ‐ Delivers Thanksgiving Dinner to the Ronald McDonald Families and Staff The Ronald McDonald program provides a place in the Houston Medical center for families to stay while their children are in either the Texas Children’s or Hermann Memorial Children’s hospitals. The children must qualify as critically ill. The rooms at the House total 50 with accommodations for up to 6 people per room. They also have in the House playrooms for the children and also quiet rooms for families to have some quiet time. It’s a wonderful place for families experiencing hard times. The Houston team donated their time who delivered food the families and staff on the 18th & 9th floor at Texas Children’s hospital which totaled for both floors 60 people. It was a very busy day but thanks to all who participated in helping with food and attendance it was wonderful.
Greystar Cypress Village – Breast Cancer Awareness Greystar Cypress Village participated in Breast Cancer awareness all month long. We held a bake sale that made over $175! We had several types of baskets up for raffle to raise money and we did a contest at all of our events for people to guess how many pink M&Ms were in a glass vase! Overall we have raised $567!! Our office was completely decked out in pink everyday and the staff donated money every Friday so they could wear pink shirts with jeans! The Resort at Lake Crossing – Race for the Cure On Saturday September 26th the Resort Racers represented Greystar in Lexington's annual Race for the Cure. Though there was rain and lighting they still had a great time! They raised over $2300 for the Susan G. Komen foundation.
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Heights at Battle Creek and Jamee Slater – Race for the Cure The team at Heights at Battle Creek in Broken Arrow, OK and Jamee Slater from Greystar corporate participated in Tulsa's Race for the Cure. "We Think Pink"‐‐On Saturday September 19th we joined over 12,000 racers for Tulsa's 13th annual Race for the Cure. Up to 75 percent of the net income raised by Komen Tulsa supports local granting efforts to further breast cancer education, screening and treatment for the uninsured and medically underserved in Tulsa County. Mallard Crossing in Loveland, OH hosts Community Gobble Hour! On November 18th the Mallard Crossing Team hosted their 2nd Annual Community Gobble Hour. They collected over 350 cans of food and 4 cases of water which were donated to the Loveland Interfaith Food Pantry. Katy Nenninger, the Leasing Manager, dressed up as a turkey to pass out breakfast and collect can goods at the gate.
WEST REGION Boxed Canned Goods with St. Mary’s Food Bank On September 18th volunteers from Greystar's West Region boxed canned goods and bagged 2,646 pounds of potatoes for St. Mary's Food Bank in Phoenix! Volunteers were Stephanie Schrier, Cathleen Tofalla, Bridget Escobedo, Cristina Hurtado, Jessi Snader and Connie Tieke, all from the Phoenix Regional Office. The Greystar Phoenix Regional Office is also holding a food drive through October to benefit the Food Bank Alliance. Colorado School Drive In August 2009 Greystar Colorado participated in the “stuff for students” campaign! Denver has recognized that many Colorado families simply are not able to purchase school supplies for themselves. These kids are forced to attend school without all of the necessary supplies to make it through the day! That is why the Colorado communities joined forces to collect school supplies for students. On August 8th Greystar Denver donated over an estimated $2500.00 in supplies to students and teachers!
Greystar Team Members also held a food drive in October and collected 3 full boxes of food items to benefit the Food Bank Alliance in Phoenix.
Phoenix – Food Bank Alliance On October 22nd Greystar Team Members in the Phoenix area volunteered for the Food Bank Alliance at St. Mary's Food Bank. Volunteers put together 10,000 lbs of WIC/Seniors food boxes and over 14,000 lbs of food boxes for the disadvantaged. Volunteers were Kelly Johnson, Rebecca Ertlet, Williama Jim, Dennis Fluit, Jody Kidd, Nancy Chisman, Sonya Meeks, Jason Alldredge, Theresa Harder, Patricia Hood, Linda Hogan, Lori Rosales, Shawn Frazier, Melanie Rodriquez, Dorain Porter, Lisa Cote, Donald Nolder and Tim Ruditys.
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Final Thoughts: Wes Fuller
For this issue, we sat down with Wes Fuller, Executive Director – National Investment Services. IG ‐ Tell us about what Greystar Investment Group does? WF ‐ We are the principal acquisition arm of Greystar. We raise capital to acquire and manage apartment properties across the US. We currently own 35 assets in 17 different markets for 6 different partners. With headquarters in Charleston, our team consists of 30 professions located in Charleston, Tampa, Houston, Dallas, Austin, Phoenix and Los Angeles. IG ‐ You interact with many people outside of the company who are looking at Greystar as a potential partner for their investment. What are some of the things you tell them about why partnering with Greystar would benefit them? WF ‐ Our people are the best in the industry….hands down. Additionally, our business model is unique in which we overlay a third‐party service organization and a principal investment and development organization on a truly national platform. Our clients greatly value this model because it combines the on‐the‐ground operational expertise with an ownership mentality which is unique in our business.
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IG ‐ What were some of the Investment Group’s “wins” in 2009? WF ‐ We were successful in launching the fund raising efforts for our new investment vehicle, Greystar Equity Partners VII (GEP VII), a $300mm discretionary commingled fund. We were successful in winning a large third party asset management assignment from BB&T and forming three new equity partner relationships. We closed our first acquisition since mid‐2008 in December and are scheduled to close another in early January. IG ‐ What is GIG’s primary focus for 2010? WF ‐ We are focused on completing the fund raising efforts and beginning the investment period for GEP VII. We will be active in acquiring assets in our target markets across the US which is extremely exciting for our team and the company. We will also continue our efforts in winning 3rd party asset management assignments. IG ‐ You were heavily involved with this year’s Greystar Blitz with Operation Home. How did that idea come about? WF ‐ The community pillar is extremely important so we wanted to find an organization and cause in Charleston where we could use the expertise and resources of Greystar to address a serious need. Operation Home focuses on making emergency home repairs for disadvantage residents in the Low country of SC. Operation Home has more clients in need than resources. With the help of the leaders of Operation Home, we designed an event whereas Greystar’s Capital Project Services team and the local team members in Charleston renovated 6 homes in 48 hours. It was a great event and we dramatically helped 6 local families…..it was also very challenging but a rewarding two days.
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