Bob Faith

Last updated
Bob Faith
Bob Faith.jpg
Born
Robert Alan Faith

1963or1964(age 59–60) [1]
Education University of Oklahoma (BS)
Harvard University (MBA)
TitleFounder, Chairman and CEO of Greystar Real Estate Partners
Children3

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]

Contents

Early life

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]

Career

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, Greystar is the largest operator of apartments in the United States, with $45.1 billion of assets under management. [19]

As of 2005, 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

Faith resides in Charleston, South Carolina, with his family. [1] He is married to interior designer Muffie Faith, and they have three children. [24]

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References

  1. 1 2 3 4 "Greystar's Bob Faith on His Global Multifamily Empire". commercialobserver.com. 6 June 2018. Retrieved 18 October 2018.
  2. ↑ "Company Overview of Greystar Real Estate Partners, LLC". Bloomberg LP. Retrieved 18 October 2018.
  3. 1 2 "Robert Faith of Greystar Gives Keynote at Cornell Real Estate Conference". cornell.edu. 27 October 2015. Retrieved 18 October 2018.
  4. 1 2 3 Rosta, Paul (18 October 2012). "Bob Faith's Mission to Buy, Build, Manage Drives Greystar". Commercial Property Executive. Retrieved 7 March 2020.
  5. ↑ "My Story: Bob Faith". Bisnow. 13 March 2013. Retrieved 7 March 2020.
  6. ↑ Broffman, Wendy (1 August 2014). "Game changer". Yield Pro. Retrieved 8 March 2020.
  7. ↑ "5 Most Powerful in Multifamily". www.multifamilyexecutive.com. Archived from the original on 2014-11-10. Retrieved 2020-04-18.
  8. ↑ "A history of Faith". Multihousing Pro Magazine. Retrieved 2018-10-22.
  9. 1 2 "Bob Faith". Trade & Industry Development. 30 June 2005. Retrieved 8 March 2020.
  10. ↑ Ballon, Marc (1 November 1997). "Hotel Chain Bags Wealthy Acquirer". Inc. Retrieved 8 March 2020.
  11. ↑ Banister, Jon (20 November 2018). "Greystar CEO Bob Faith On $4.6B EdR Acquisition And His Outlook For Multifamily" . Bisnow. Retrieved 20 March 2021.
  12. ↑ 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)
  13. ↑ Isaacson, Greg (3 June 2020). "Greystar Acquires Alliance's Property Management Arm". Multifamily Real Estate News. Retrieved 11 October 2022.
  14. ↑ "Greystar closes on remaining 55% interest in Thackeray Partners | News". Institutional Real Estate, Inc. 18 May 2021. Retrieved 11 October 2022.
  15. 1 2 Ou, Christie (1 December 2021). "Greystar makes industrial push into new region". PERE. Retrieved 11 October 2022.
  16. ↑ Lowe, Richard (16 December 2021). "ADIA and Greystar to invest £2.2bn in London housing". IPE Real Assets. Retrieved 11 October 2022.
  17. ↑ Shaver, Les (9 July 2021). "CPP Investments and Greystar Form Life Sciences Development JV". GlobeSt. Retrieved 11 October 2022.
  18. ↑ Campbell, Kyle (8 December 2021). "CPP commits $840m to single-family rental JV with Greystar". PERE. Retrieved 11 October 2022.
  19. ↑ Pollack, Lynn (10 November 2021). "Greystar Sells Flagship $3.6B Multifamily Fund to Ivanhoe Cambridge". GlobeSt. Retrieved 11 October 2022.
  20. ↑ "President Donald J. Trump Announces Great American Economic Revival Industry Groups". Trump White House Archives. Trump White House. Retrieved 22 April 2023.
  21. ↑ "Charleston CEO part of Trump's economic revival group". Post and Courier. Charleston. April 27, 2020. Retrieved April 27, 2020.
  22. ↑ Daisley, Margaret; Rogers, Alison (28 September 2018). "2018's Most Powerful People in Residential Real Estate". Observer. Retrieved 11 October 2022.
  23. ↑ Coen, Andrew (16 May 2022). "Bob Faith". Commercial Observer. Retrieved 11 October 2022.
  24. ↑ Hunt, Stephanie (June 2008). "Old Village: Interior Designer Muffie Faith's Historic Manse". Charleston Magazine. Retrieved 20 March 2021.


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