Colliers International Group has acquired Greystone Sales Group, also known as GREA Dallas, in a move to expand its presence in the multifamily sector and strengthen its position in Texas. The Dallas-based team consists of 25 professionals led by Todd Franks and serves both private and institutional investors across the United States. Financial terms of the acquisition were not disclosed.
This acquisition is part of a series of recent purchases by Colliers, which also bought Canadian engineering firm Higher Ground Consulting and Chicago-based Terra Consulting Group earlier this year. These deals contributed significantly to Colliers’ second-quarter performance, with acquisitions adding $436 million in revenue, marking a 67 percent increase from the previous year.
Gil Borok, president and CEO of Colliers U.S., said that the addition of Greystone gives Colliers more strength in the multifamily market, particularly in Dallas-Fort Worth. “Strong economic fundamentals, population growth and investment activity” are among the reasons for focusing on North Texas as part of Colliers’ national multifamily capital markets strategy.
According to Colliers data, nearly 47,000 apartment units were under construction in Dallas-Fort Worth midway through the year, with another 18,000 expected to be delivered by mid-2026. This pipeline places DFW second nationally behind New York City for new units underway (https://www.rentcafe.com/blog/rental-market/market-snapshots/apartment-construction-2023/). The region is projected to surpass Chicago as the third-largest metro area in the U.S. by 2030. More than 450 new residents arrive daily according to U.S. Census Bureau estimates (https://www.census.gov/quickfacts/fact/table/dallascitytexas/PST045222), fueling steady demand for additional multifamily housing despite higher borrowing costs.
The acquisition highlights how population growth is affecting various real estate sectors in North Texas beyond apartments. Retail leasing has increased, hotel development is rising, and even office space demand has shown signs of stabilizing.
It remains uncertain whether Greystone’s staff will move from their current office at 5728 LBJ Freeway to Colliers’ Uptown Dallas location at the 17Seventeen tower on McKinney Avenue.
