2026 Investor Letter – Internal

*Reflects units and residents under property management. Team members include investment, development, construction, and property management. AUM reflects RIA regulatory AUM (approx.$36.5 billion as of December 31, 2025), and real estate investments organized by affiliates of Greystar Real Estate Partners (“GREP”), and real estate projects where affiliates of GREP are the primary developer, manager or operator.

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