Global investment and property management leader Greystar has announced a strategic agreement to take over the management of Lantower Residential’s multifamily portfolio. Lantower, a subsidiary of H&R REIT, is based in Dallas and has decided to move away from direct property management. The deal involves 23 communities and approximately 7,895 units. This transition is being handled in phases and covers existing sites as well as two new developments scheduled to open early this year.

The agreement aims to maintain stability for current residents while moving the properties onto Greystar’s global management platform. To ensure continuity, Greystar has confirmed that many members of Lantower’s onsite and property leadership teams will be joining their firm. Greystar intends to use its operational scale and data insights to manage the portfolio while focusing on long-term value for the owners.

Mike Clow, Executive Director, Real Estate Operations at Greystar, said: “This partnership exemplifies Greystar’s commitment to strategic collaboration that drives value for owners and enhances community living. We look forward to working with the Lantower team to identify new opportunities, optimize performance, and expand our collective impact in key multifamily markets across the United States.”

The partnership is structured to protect the culture of service within the existing communities. By absorbing the experienced onsite staff, the companies hope to avoid disruption during the integration process. Richard Friedman, Senior Managing Director, Strategic Partnerships at Greystar, commented on the importance of the workforce in this move.

“We recognize that great communities are built by great people. We’re proud to welcome many of Lantower’s onsite and property leadership teams into our extended Greystar family and to support a culture that values service, collaboration, and professional excellence,” Friedman said.

Greystar is currently a global leader in the rental housing sector and this latest move reinforces its presence in major American markets. The firm has stated it is committed to providing high-quality resident experiences throughout this next chapter of the Lantower portfolio.