Wood Partners Deal Impacts 3,200 Communities Across 17 States
Wood Partners, Atlanta’s fourth-biggest developer, is handing over property management for its approximately 38,000 units in 17 states to South Carolina-based Greystar.
According to the terms of the arrangement, which was revealed in a press release on Thursday, over 600 Wood Property Management personnel will become Greystar employees. Greystar will also act as the property manager for all present and future Wood-developed and owned properties.
Going forward, Greystar will operate 895,000 units in over 3,000 communities with 24,000 team members in the Wood portfolio.
Emulating Greystar's 6 Pillars of Excellence
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The Charleston-based company describes the six pillars of its management philosophy as follows:
- People: We will have the highest quality people and stay true to our core values.
- Customer Satisfaction: We will strive for truly loyal residents, customers, and team members.
- Operational Excellence: We will be known for excellence in creating value at the individual property level and will have a performance metric system to keep ourselves accountable.
- Profitability: We will be profitable while continually investing in our people and systems.
- Growth: We will strive to consistently grow our company organically, as well as through selective business combinations that are strategic and culturally compatible. It is our goal to have a presence in all major markets.
- Community: We will be committed to community and industry service.
Contact CII Today
If you own an established property management or real estate service business in Florida or Georgia and would like to get a better understanding of the current market value of your company and important steps you can take today to maximize that value, get in touch with a CII business advisor today.