About Gray

Gray is an award-winning planning, development and management company that operates in the Western United States' urban residential rental marketplace. Its core purpose is to continuously drive the leading edge of multifamily housing. Founded in 1991 by architect and Chairman, Bruce Gray, it has built a strong reputation for introducing high-design and innovative living concepts that address emerging trends and the needs of today's population.

Since its inception, Gray has built branded properties that raise the bar for the entire industry in terms of design, marketing, resident services and return on investment (ROI). As a result, it has grown rapidly over the past decade to become one of the largest apartment developers in the Arizona market; and in 2008, earned the "Apartment Community of the Year” award from the National Apartment Association.

Building on this success, Gray has recently expanded into Southern California and has plans to expand into Washington, Oregon, and Northern California. The company's communities provide residents with unprecedented levels of quality, amenities and customer service - and offer investors the opportunity to garner record-setting rents and asset valuations with average gross profit margins of 58+%. Of note, during its first 18 years the company has delivered to its investors a remarkable weighted average internal rate of return (IRR) of 61% on sales of 5,000 apartments valued at $600 million.

During 2008 and 2009, Gray completed more than 2,000 apartments and now has 2,879 units under management. Its current pipeline includes development projects in Scottsdale, Phoenix and San Diego. Gray is comprised of three operating divisions: Gray Development, Gray Residential and Gray Services.  In this role, it manages land acquisition, land planning and entitlements, project planning, architecture and engineering, and construction.