
Blueground is owned by Greystar Real Estate Partners, a privately held international real estate company. Greystar acquired Blueground to expand its furnished apartment offerings globally. Blueground provides expertly designed, fully-furnished homes available for flexible lease terms, serving professionals, travelers, and those seeking temporary or transitional housing worldwide.
Parent Company
Founded
2012
Status
Private
Headquarters
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Blueground | Greystar Real Estate Partners | Wholly owned |
Avi Cohen and Tal Barkai founded Blueground in 2012 in New York, betting that professionals relocating for work or extended travel would pay a premium for fully furnished apartments over hotels or unfurnished leases. The founders built the company around design consistency: every unit in a given size category ships with the same furniture package, which let Blueground standardize sourcing and turn apartments over quickly between guests.
Blueground expanded city by city through the 2010s, entering major hubs including San Francisco, Los Angeles, London, Paris, Dubai, and Tokyo. Growth relied mainly on master-leasing existing apartment inventory from landlords rather than developing or owning buildings, which let the company scale without heavy capital investment in real estate. By the end of 2021, Blueground operated more than 12,000 apartments across roughly 30 cities.
Greystar Real Estate Partners acquired Blueground in December 2021. The financial terms were not disclosed publicly. The deal gave Greystar, already one of the largest multifamily property managers in the world, a foothold in the fast-growing flexible and furnished rental segment, which had drawn increased demand during the pandemic-era shift toward remote work and longer-term travel.
Since the acquisition, Blueground has continued operating as a distinct brand rather than being merged into Greystar's other residential brands. The company launched partnerships with Nestpick and franchise operators in Japan and Thailand in 2023, and acquired Travelers Haven, a corporate housing booking platform, the same year. Blueground reported gross revenue of $560 million in 2023, up 70 percent from $300 million in 2022, and reached positive cash flow in 2024.
Is Greystar a publicly traded company?
No, Greystar is a privately held company. The company is not listed on any public stock exchange and remains under the ownership and control of founder Bob Faith and other private investors. Greystar does not publicly report financial results.
When was Greystar founded?
Greystar was founded in 1993 by Bob Faith in Charleston, South Carolina. The company has grown from a regional real estate developer to the largest apartment manager and owner in the United States, with operations in 17 countries.
Who founded Greystar?
Greystar was founded by Bob Faith, who serves as Founder, Chairman, and CEO. Faith established the company with a focus on delivering quality housing solutions and maintaining a people-first company culture. He has led the company for over 30 years.
How many properties does Greystar own and manage?
As of January 1, 2026, Greystar manages 1,014,091 units and owns 119,160 apartments, making it the largest apartment manager and owner in the United States per the NMHC. The company manages approximately $79 billion in gross assets under management, has $36 billion in development projects, and operates in 17 countries with approximately 29,600 team members across 66 offices in 224 markets.
What is Greystar's largest acquisition?
Greystar's largest single acquisition was the purchase of EdR, a manager of college housing communities in the US, for $4.6 billion in June 2018. This transaction established Greystar as a dominant player in student housing. Other significant acquisitions include Monogram Residential Trust's 14,000-unit portfolio for $3 billion (2017), the Wood Partners property management arm adding 38,000 units (2024), and the Grand Peaks partnership adding 11,000 units (September 2025).
Who leads Greystar?
Bob Faith serves as Founder, Chairman, and CEO. Toni Eubanks assumed executive leadership of US Property Management on January 1, 2026, succeeding Andrew Livingstone, who transitioned to Senior Advisor and joined the Greystar Board of Directors after more than 26 years with the company. Eubanks joined Greystar in 2009 and co-led day-to-day operations of the property management business for two years prior to her promotion.
Blueground's sustainability practices are set primarily by parent Greystar rather than disclosed as a standalone Blueground program. Greystar allocated $4.3 million to sustainability-related projects across its US portfolio in 2024 and reports an average GRESB (Global Real Estate Sustainability Benchmark) score of 78 out of 100 across its reporting funds.
At the unit level, Blueground uses durable furniture designed to survive multiple tenant turnovers rather than being replaced between stays, which reduces furniture waste relative to short-term furnished rental competitors that refresh decor more frequently. The company has not published independently verified figures specific to Blueground's energy use or carbon footprint separate from Greystar's group-wide reporting.
Blueground has been described by industry trade press as the largest furnished-rental network in its category by unit count, based on the company's own disclosed figures rather than a third-party ranking body. The company's 2023 revenue growth of 70 percent and its move to positive cash flow in 2024 have been cited in business press coverage, including TechCrunch, as evidence that the furnished-rental model can achieve sustainable unit economics after years of subsidized expansion common across the sector.
Blueground has not faced product recalls, since it operates as a rental services company rather than a manufacturer. Customer-facing complaints concentrate on cancellation policy and billing transparency.
Early Termination Fees: The most consistent complaint pattern involves Blueground's early termination charges. Customers on platforms including Reddit and Trustpilot have described high cancellation penalties when ending a lease before the agreed term, even in cases involving dissatisfaction with the apartment. Blueground's cancellation terms are disclosed in its lease agreements, but critics argue the fee structure is not made clear enough before booking.
Security Deposit and Billing Disputes: A minority of customers report delays in receiving security deposit refunds or unexpected charges not clearly itemized during booking. Blueground maintains a Better Business Bureau profile that shows a mix of resolved and unresolved complaints, concentrated in service quality and billing rather than safety issues.
Maintenance Responsiveness: Some reviews cite slow response times for in-unit maintenance requests, particularly in markets where Blueground master-leases from third-party landlords and must coordinate repairs through the building's own management company rather than handling them directly.
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Brookfield Asset Management | USA | 2019 | Luxury | United states | All Genders | |
| Greystar | USA | 2015 | Mass market | United states | All-ages | |
| Greystar | USA | 2020 | Mass market | United states | Unisex | |
| Greystar | USA | 2015 | Mass market | United states | Unisex | |
| Greystar | USA | 2015 | Mass market | United states | All-ages | |
| Greystar | USA | 2022 | Premium | Europe | All-ages |
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Market Positioning: Blueground competes with 6 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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