Greystar Real Estate Partners LLC
06/03/2026 | Press release | Archived content
Greystar and University of Pennsylvania Close on 493-Bed Student Housing Re-Development Project on Penn Campus
PHILADELPHIA, PA (June 3, 2026) - The University of Pennsylvania in partnership with Greystar, a global leader in the investment, development, and management of real estate, are pleased to announce the redevelopment of existing student housing at 3650 Chestnut Street is underway. The project marks Penn and Greystar's second collaboration and will deliver 493 beds in 448 furnished, attainably priced units, supported by a robust amenity package tailored to the needs of today's graduate students. The project also marks the inaugural student housing investment of Greystar's infrastructure platform, and the second partnership between Greystar and JLC, an investment fund backed by Magic Johnson Enterprise and Loop Capital.
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