Who Owns Blueground?
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
Greystar Real Estate Partners
Founded
2012
Status
Private
Headquarters
New York City, New York, USA
Who Owns Blueground?
- Parent Company: Greystar Real Estate Partners
- Ownership Type: Wholly owned
- Company Type: Privately Held
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Blueground | Greystar Real Estate Partners | Wholly owned |
History of Blueground
- Founded: 2012
- Founders: Avi Cohen, Tal Barkai
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.
About Greystar Real Estate Partners
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 Bob Faith and other private investors.
When was Greystar founded?
Greystar was founded in 1993 by Bob Faith in Charleston, South Carolina. The company has grown significantly since its founding to become one of the largest residential real estate companies globally.
Who founded Greystar?
Greystar was founded by Bob Faith, who serves as chairman and CEO. Faith established the company with a focus on delivering quality housing solutions and maintaining a people-first company culture.
How many properties does Greystar own and manage?
As of 2025, Greystar manages over $76 billion in gross assets under management across multiple countries. The company operates in 17 countries with 66 offices representing 224 markets and manages hundreds of thousands of residential units, with over 29,600 team members globally.
What is Greystar's largest acquisition?
Greystar's largest acquisition was the purchase of EdR, a manager of college housing communities in the US, for $4.6 billion in June 2018. This transaction significantly expanded Greystar's presence in the student housing sector.
- Founded: 1993
- Headquarters: Charleston, South Carolina, USA
- Company Type: Privately Held
- Revenue: approximately $10.3 billion (FY2025 estimated)
- Employees: Approximately 29,600
Where Is Blueground Made / Based?
- Headquarters: New York City, New York, USA
- Manufacturing / Operations: United States, Canada, Europe, Asia, Latin America
Blueground Sustainability & Ethics
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.
Awards & Recognition
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 Recalls & Controversies
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.
Brands Owned by Greystar Real Estate Partners
- Accolade - Greystar's student housing brand providing thoughtful amenities and inclusive en...
- Album - Greystar's mid-market active adult brand offering value-focused, maintenance-fre...
- Avana - Greystar Real Estate Partners' quality-focused multifamily residential brand off...
- Bellamy - Greystar Real Estate Partners' high-end urban mid-rise multifamily brand offerin...
- Birchway - Greystar's suburban garden-style brand offering comfortable, practical communiti...
- Canvas - Greystar's European student and young professional brand providing authentic, im...
- Marlowe - Greystar's upscale suburban brand pairing classic garden-style comfort with urba...
- Overture - Music notation software developed by Don Williams and published by Sonic Scores,...
- Summerwell - Greystar's brand dedicated to purpose-built, professionally-managed single-famil...
Blueground Ownership: Pros & Cons
Advantages
- +Access to Greystar's balance sheet and landlord relationships across 17 countries
- +Standardized, professionally designed furnished units that reduce move-in friction for relocating professionals
- +Reached positive cash flow in 2024 after years of venture-backed subsidized growth
- +Master-lease model avoids the capital intensity of owning real estate directly
- +Broad city coverage spanning North America, Europe, Asia, and Latin America
Considerations
- -Early termination fees are a recurring source of customer complaints and reputational risk
- -Revenue is sensitive to corporate relocation budgets and business travel cycles, both of which contract in downturns
- -Competes against hotels, extended-stay chains, and a growing list of furnished-rental startups
- -Because it leases rather than owns units, Blueground is exposed to landlord decisions to exit master-lease agreements
- -Currency exposure and regulatory variation across 17 countries add operational complexity
Frequently Asked Questions About Blueground
Sources & Further Reading
Competitors to Blueground
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 |
|---|---|---|---|---|---|---|
| Hines | Canada | 2021 | Premium | Canada | All-ages | |
| Brookfield Asset Management | USA | 2019 | Luxury | United states | All-ages | |
| 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 |
Learn More About Competitors
CIBC Square
Owned by Hines
Major mixed-use development in Toronto featuring office towers, residential units, and retail space, co-developed and managed by Hines and Ivanhoé Cambridge.
Manhattan West
Owned by Brookfield Asset Management Ltd.
Major mixed-use development in Hudson Yards featuring office towers, residential, hotel, and retail space, developed and operated by Brookfield Properties.
Accolade
Owned by Greystar Real Estate Partners
Greystar's student housing brand providing thoughtful amenities and inclusive environments near college campuses across the United States.
Album
Owned by Greystar Real Estate Partners
Greystar's mid-market active adult brand offering value-focused, maintenance-free communities for 55+ residents seeking quality living with essential amenities.
Avana
Owned by Greystar Real Estate Partners
Greystar Real Estate Partners' quality-focused multifamily residential brand offering apartment communities with quality finishes, inviting spaces, and convenient amenities at accessible price points across the United States; one of several Greystar conventional multifamily brands alongside Bellamy, Birchway, and Marlowe.
Birchway
Owned by Greystar Real Estate Partners
Greystar's suburban garden-style brand offering comfortable, practical communities with tranquility and convenience for families and individuals.
Competitive Analysis
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.
Jobs at Greystar Real Estate Partners
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