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reystar, a global real estate investment firm, has established its own private wealth division to cater to high-net-worth investors with qualified purchaser status, registered investment advisors (RIAs), and family offices. The team will allocate investor funds alongside institutional capital into Greystar's existing funds.

    Stephen Mullin, a 20-year veteran in the private wealth channel, has been appointed managing director of the new division. Previously, he worked at HarbourVest Partners, where he focused on raising money from high-net-worth investors and family offices on the West Coast. Mullin will be based in Greystar's Los Angeles office, reporting to Christie Wootton.

    Greystar manages $78 billion across 160 global markets, with a strong focus on multifamily, student housing, active adult communities, logistics facilities, and life sciences properties. The company has seen increased interest from high-net-worth investors in real estate investment strategies, according to CIO Wes Fuller.

    "We have observed that the private wealth channel is becoming more sophisticated, focused on long-term value creation," Fuller said. "By launching a dedicated private wealth team, we are broadening our platform to support this investor segment."

    As alternative asset managers expand their private wealth divisions, Greystar aims to tap into growing demand from retail investors seeking exposure to professionally managed real estate strategies. While the company has no current plans for funds specifically targeting private wealth investors, it is taking a thoughtful approach to expanding access for these investors by leveraging its institutional experience and capabilities.