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Bob Faith

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Bob Faith
Born
Robert Alan Faith

1963 or 1964 (age 60–61)[1]
EducationUniversity 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]

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]

Career

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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]

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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] He ranked #10 in 2023[24] and #6 in 2024.[25]

Personal life

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Faith resides in Charleston, South Carolina, with his family.[1] He is married to interior designer Muffie Faith, and they have three children.[26]

References

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  1. ^ a b c d "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. ^ a b "Robert Faith of Greystar Gives Keynote at Cornell Real Estate Conference". cornell.edu. 27 October 2015. Retrieved 18 October 2018.
  4. ^ 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.
  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. ^ a b "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. ^ a b 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. ^ Acitelli, Tom (10 May 2024). "Bob Faith - Power 100 2023". Commercial Observer. Retrieved 8 September 2024.
  25. ^ Acitelli, Tom (10 May 2024). "Bob Faith - Power 100 2024". Commercial Observer. Retrieved 8 September 2024.
  26. ^ Hunt, Stephanie (June 2008). "Old Village: Interior Designer Muffie Faith's Historic Manse". Charleston Magazine. Retrieved 20 March 2021.



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