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]
Bob Faith | |
|---|---|
 | |
| Born | Robert Alan Faith 1963 or 1964 (age 59–60)[1] |
| Education | University of Oklahoma (BS) Harvard University (MBA) |
| Title | Founder, Chairman and CEO of Greystar Real Estate Partners |
| Children | 3 |
Early life
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
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[update], Greystar is the largest operator of apartments in the United States, with $45.1 billion of assets under management.[19]
Recognition and related activities
As of 2005[update], 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]
Personal life
Faith resides in Charleston, South Carolina, with his family.[1] He is married to interior designer Muffie Faith, and they have three children.[24]