DLA Piper represented multifamily real estate development and management company Alliance Residential Company in the sale of its property management business to Greystar Real Estate Partners, LLC.

Comprising more than 500 multifamily properties and nearly 130,000 primarily Class A units across 21 states, the Alliance portfolio will increase Greystar’s US footprint by approximately 25 percent and significantly complement the firm’s current presence in key Western markets. Alliance, the leading developer of multifamily units in the US for the last two years, will streamline its focus on development, construction and acquisition across the multifamily, workforce and senior housing segments. As part of the deal, Greystar will provide management services to Alliance’s multifamily acquisition and development businesses going forward.

“We are proud to have represented Alliance and its senior management in establishing this strategic partnership with Greystar,” said Steven Pidgeon, the DLA Piper partner who led the firm’s deal team. “We congratulate the parties on negotiating and closing such a seminal transaction during one of the most challenging deal periods in recent history.”

In addition to Pidgeon, the DLA Piper team representing Alliance included partners Kevin Criddle (Phoenix), Paolo Morante (New York) and Nathaniel McKitterick (Silicon Valley); senior counsel David Plewa (Silicon Valley); of counsel Nicole Chaudhari (Chicago) and Nia Brown (Washington, DC); and associate Steven Autenrieth (Phoenix).

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for ten consecutive years, according to Mergermarket.