Gray Capital is proud to announce the founding of Gray Residential, a property management company that will serve residents of Gray Capital apartment communities located throughout the Midwest. With the formation and growth of Gray Residential, Gray Capital benefits from a vertically-integrated structure with greater efficiencies, cost savings, and shared leadership.
Spencer Gray, President and CEO of parent company Gray Capital LLC said, “As owners and stewards of these communities, it became an imperative to create Gray Residential to provide best-in-class services to our residents and to efficiently execute on our business and improvement plans for our investors. Real estate and property management are still a generation or two behind other industries, so we’re excited to use technology and a fresh perspective to raise the bar.”
Gray Residential will focus on managing multifamily apartments owned by Gray Capital-affiliated companies and has no immediate plans to manage apartments owned by others.
With an experienced team at its core, Gray Residential builds on their knowledge and experience through cost-effective technology and an inclusive company culture that welcomes creative problem solving. With particular focus on innovation, customer care, and clear communication, Gray Residential is committed to constantly improving its already-excellent service. Creating ever-more efficient solutions to resident and property-level issues and sharing these ideas seamlessly with residents and within the teams at Gray Residential and Gray Capital is central to Gray Residential’s mission and ethos.
Ryan Clasey, Director of Property Management, highlights the importance of company culture as Gray Residential grows: “We are dedicated to a culture based on inclusion, creativity, and modern technology as the foundation of how Gray Residential manages their communities and the company itself, drawing on the contributions of the entire team to create excellent, one-of-a-kind living experiences for our residents.”
For Gray Capital, the formation of Gray Residential is just one of several landmark accomplishments in 2022. Gray Capital launched its $100m multifamily investment fund, The Gray Fund (http://gray.fund, open to accredited investors only), in the Spring of 2022. Shortly after the fund’s launch, 122-unit Class B Stonybrook Commons in Indianapolis and the 406-unit Club Meridian in Lansing, Michigan became the first assets in the Gray Fund portfolio. Gray Capital has several acquisitions planned in the coming months, with at least one expected to close before the end of 2022.
For more information please visit https://www.GrayRes.com.
Interested accredited investors can visit www.graycapitalllc.com to learn more about Gray Capital, or they can email a member of Gray Capital’s investment team at Blake@GrayCapitalLLC.com .