Jones Lang LaSalle Securities, LLC, an affiliate of JLL (Jones Lang LaSalle Americas, Inc.), announced that it served as the financial advisor to Wood Partners, a top national developer and builder of multi-housing in the United States, in their transfer of property management operations to and formation of a long-term Strategic Partnership with Greystar property management services partnership with Greystar, a global leader in the investment, development and management of institutional quality rental housing.
As part of the new partnership, Wood Partners and Greystar have entered a long-term preferred management services provider agreement, which allows Greystar to serve as the property manager for all of Wood’s current and future assets.
The JLL Securities team that led the transaction includes Executive Managing Director Mark Gibson, Senior Managing Director Steve Hentschel and Vice President Anderson Granger.
This Wood Partners Partnership agreement with Greystar agreement follows a December 2023 announcement of another JLL Securities-advised residential platform transaction. The same JLL Securities team represented JPI, a top 10 multi-housing developer in 2022 per NMHC, on the sale of its operating platform to Sumitomo Forestry.
“The Wood and JPI transactions are indicative of the accelerating strategic dialogue in real estate platform investing,” said Hentschel. “Strong management teams with development, construction, property management or other expertise have garnered significant recent attention from investors, as they can provide a direct pipeline of future opportunities and enhanced returns compared to traditional real estate investing. JLL Securities’ intimate knowledge of these real estate operating company dynamics continues to drive significant value for our clients.”
Jones Lang LaSalle Securities, LLC is a registered broker dealer and member of FINRA/SIPC.
