The Hotelification of multifamily: Greystar partners with Hello Alfred

The residential rental landlord will roll out the startup's digital building management services in its 450,000 units

May.May 15, 2019 10:00 AM
Hello Alfred CEO Marcela Sapone and Greystar CEO Bob Faith (Credit: Getty Images)

Hello Alfred CEO Marcela Sapone and Greystar CEO Bob Faith (Credit: Getty Images)

One of the country’s largest residential landlords will partner on building management services with Hello Alfred, a startup that uses technology to determine residents needs.

Greystar, the South Carolina-based landlord with more than 450,000 units in the United States, plans to roll out the platform across its entire portfolio, which will provide its multifamily residents with services like pet care, laundry and will purchase groceries through an app. The platform is currently in 200,000 units across the United States, including some of Greystar’s buildings.

Launched in 2014, Hello Alfred offers an alternative to the traditional property management firm in multifamily buildings. The firm has since raised $52.5 million, in rounds led by New Enterprise Associates, Spark Capital, Invesco and Greystar.

In 2017, the firm signed an agreement with Related Companies to roll out its platform in the landlord’s Manhattan buildings, but it came with an exclusivity clause that barred Hello Alfred from operating in any other Manhattan buildings. That agreement expires in September, said Hello Alfred’s chief executive Marcela Sapone, and it will be added to Greystar’s Manhattan buildings.

Greystar currently has $32 billion of assets under management including $12 billion of assets under development.

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