Along with Greystar, GIF's founding partners include affiliates of APG Asset Management NV, GIC and Ivanhoé Cambridge. Their acquisition of Monogram includes the Plano, TX-based company's share of its two institutional co-investment joint ventures with PGGM and NPS. The PGGM JV will be restructured, and Greystar will buy out NPS' JV interests in a separate transaction valued at about $500 million.

When the merger was announced, Monogram CEO, president and COO Mark Alfieri said it was the outcome of his company's success in “executing and delivering on strong operations, innovative development programs and investment strategies in conjunction with skillful market timing. The interest we received from this sophisticated group of investors demonstrates that our targeted focus on building our portfolio with high quality class A assets in select core markets has been recognized and our stockholders and joint venture partners are rewarded with this successful outcome.”

CHARLESTON, SC—Jeff Manno, who has led Greystar Real Estate Partners' UK rental housing business for the past three years, will be returning stateside to serve as portfolio management leader for the recently established Greystar Growth and Income Fund LP (GIF). The perpetual-life fund established its seed portfolio with the $3-billion acquisition of Monogram Residential Trust, announced in early July.

During his time in the UK, Manno helped build the business to over 200 employees, assets under management of £3.5 billion and a development pipeline of £1.5 billion. Prior to his role in London, he was the portfolio management leader for Greystar's international investments. Manno will report directly to Chris MacNaughton, head of Greystar's global portfolio management platform.

“We are very excited to have not only Jeff's extensive portfolio management and business-building expertise but also his passion for our business to lead the portfolio management efforts for Greystar Growth and Income Fund,” says Bob Faith, founder and CEO of Charleston, SC-based Greystar. “We are committed to ensuring we have the teams and capabilities in place to execute on the strategy and portfolio successfully.”

The portfolio that Manno will be managing, which he calls “a best-in-class, diverse portfolio of multifamily assets,” was launched with the merger agreement between Monogram and the Greystar-led fund. Monogram's apartment portfolio spans 49 communities across 10 states and comprises 13,674 apartment units.

Along with Greystar, GIF's founding partners include affiliates of APG Asset Management NV, GIC and Ivanhoé Cambridge. Their acquisition of Monogram includes the Plano, TX-based company's share of its two institutional co-investment joint ventures with PGGM and NPS. The PGGM JV will be restructured, and Greystar will buy out NPS' JV interests in a separate transaction valued at about $500 million.

When the merger was announced, Monogram CEO, president and COO Mark Alfieri said it was the outcome of his company's success in “executing and delivering on strong operations, innovative development programs and investment strategies in conjunction with skillful market timing. The interest we received from this sophisticated group of investors demonstrates that our targeted focus on building our portfolio with high quality class A assets in select core markets has been recognized and our stockholders and joint venture partners are rewarded with this successful outcome.”