The Finger Companies has announced it has sold a portfolio comprised of more than 20 garden and mid-rise assets from its national holdings to a venture led by Greystar in a transaction valued at $2 billion. As part of the transaction, the new venture agreed to retain all of Finger’s on-site employees.
“Today’s announcement is a direct reflection of the talented and devoted family of long-term employees who haveconsistently upheld the highest standards in the industry,” said the Finger Companies Founder, President, and ChiefExecutive Officer Marvy Finger. He added, “The agreement to sell part of our portfolio to the venture spearheaded byGreystar will allow that legacy to continue uninterrupted.”
A widely respected figure in the industry, Finger has earned the revered status of multifamily pioneer following sixdecades of industry innovations in product design, construction, landscaping, and boundary-pushing amenities, but his uncanny knack for identifying future “Main and Main” locations has given him almost mythical status amongindustry peers.
Finger has retained ownership and management of nearly every apartment project he has developed since the 1958 launch of his company, which is one of the only remaining independent national multifamily development and management companies in the United States. The sale of even a portion of his portfolio will signal an immediate sweeping impact on the industry.
“This is a major step towards achieving our goal of maintaining a certain level of excellence for which we are known,”continued Finger. “We are perfectly positioned to do exciting new projects that will propel the company far into thefuture.”
The JLL Capital Markets Investment Sales Advisory team representing the seller is being led by Houston-based Executive Managing Director Scott Galloway and Senior Director Dustin Selzer along with Dallas-based Senior Managing Director Roberto Casas.