Greystone, a leading national commercial real estate finance company, and Cushman & Wakefield, a leading global real estate services firm, jointly announced they provided acquisition financing for, and arranged the sale of, respectively, a two-property multifamily portfolio totaling 153 units in Johnson City, Tennessee.

The Fannie Mae Delegated Underwriting & Servicing (DUS®) Green loans were originated by Judah Rosenberg, Zane Teslik and Jack Hudak of Greystone on behalf of Jeremy Rieder of Onyx Partners, with Tyler Mayo from Cushman & Wakefield representing the seller in the transaction.

Each of the non-recourse, fixed rate financings in the portfolio carry a five-year term and thirty-year amortization schedule, with interest-only payments for the first three years.

“We are thrilled that our client came back to Greystone to find the right financing for the newest additions to their growing portfolio,” said Mr. Rosenberg, Vice President at Greystone. “When it comes to navigating the multifamily lending process, our extensive expertise, creativity and deep lending platform means we can craft solutions that set our clients up for long-term success in any market.”

“Through our close partnership with Greystone, we’re able to provide a high level of confidence to our clients that reduces or eliminates any financing concerns,” said Mr. Mayo, Managing Director at Cushman & Wakefield. “This transaction is a prime example of the benefits of collaborating with the Greystone team which ultimately produced a successful outcome for all parties involved.”

Greystone, a leading national commercial real estate finance company, announced that its Low Income Housing Tax Credit (LIHTC) syndication platform, Greystone Real Estate Capital, has added Michael Boyle as a Senior Vice President, Acquisitions & Institutional Investments. In this role, he will leverage his 20 years of LIHTC experience to support the growth of Greystone Real Estate Capital and help to create a forward-thinking strategy to affordable housing finance. 

Prior to joining Greystone, Mr. Boyle served as Senior Vice President at CREA, LLC for nine years where he was responsible for identifying, structuring, and closing LIHTC investment opportunities nationwide.  Mr. Boyle was part of a leadership team which grew the company’s syndication activity from just over $400 million to nearly $1.4 billion annually. Throughout his career he has been directly involved in closing more than $1 billion of institutional client equity in more than 150 transactions nationally. Prior to CREA, Mr. Boyle held similar roles with nationally recognized financial services companies, including Raymond James, with a focus on multifamily affordable housing equity and debt.

Mr. Boyle earned an MBA from the University of Notre Dame, a Bachelor’s degree in Finance from the University of South Florida, and proudly served in the U.S. Army.

“The opportunity to help build a ground-up LIHTC platform in today’s evolving and challenging economy is compelling, and the Greystone Real Estate Capital team is emerging as an industry-leading effort built on the best talent and resources in the affordable sector. I’m honored to be among them, and look forward to the impact we’ll make together,” said Mr. Boyle.

“We are just so pleased to welcome Mike. His sincerity and values are as important to him as they are to us and why we know working together on the same side after competing for so many years presents a very special opportunity for all of us. Our team’s vision is to establish Greystone Real Estate Capital as the most respected and preferred provider of LIHTC, preservation, and workforce housing equity in the country,” said Ms. Sarah Laubinger, Chief Operating Officer of Greystone Real Estate Capital and to whom Mr. Boyle reports.

Ms. Laubinger added, “Our approach to financing affordable housing will be different than our competitors because our team is built on a set of shared values and prides itself on innovation, offers unmatched, wide-ranging affordable experience, and is supported by Greystone’s philanthropic and innovative culture. Further, with the foundation of Greystone’s leading position in affordable housing for FHA and Agency lending, the sky is the limit for us to channel our collective commitment to integrity, excellence and long-term partnerships while raising the bar and amplifying the positive impact on the communities we finance nationwide.”

Greystone Monticello, a bridge lending program serving as a one-stop shop provider of capital finance products and services for the multifamily and senior housing sectors, has closed a $16,670,000 bridge loan for the acquisition of a seniors housing property in Illinois. The financing was originated by Karina Davydov, a Managing Director for Greystone Monticello.

The property comprises independent living, assisted living and memory care units. The bridge financing closed by Greystone Monticello carries a two-year term with two six-month extensions.

“We are excited to deepen our relationship with a top-notch regional operator as it expands its footprint in the Midwest market,” said Ms. Davydov. “Greystone Monticello prides itself on its ability to provide custom solutions in the ever-evolving capital markets. Another successful execution by the team is a testament to our efficiency, sophistication, and commitment to our clients.”

“The Greystone Monticello bridge platform is certainly ideal for seniors housing operators looking to transact during times of transition in the market, and we look to exceed their expectations over the long term,” added Joseph Borenstein, head of the healthcare sales desk at Greystone Monticello.

Greystone, a leading national commercial real estate finance company, announced that Colin Grayson has joined the firm as a Managing Director for its lending business platforms. Drawing on his nearly 15 years of commercial real estate experience, Mr. Grayson will focus on originating multifamily debt and finance solutions, including Fannie Mae, Freddie Mac, HUD, bridge and other proprietary debt products. He is based in Dallas, TX and reports to Vince Mejia, Senior Vice President of Agency Production.

Prior to joining Greystone, Mr. Grayson was a Vice President, Multifamily Originations at Lument for eight years. Mr. Grayson also held positions in the commercial real estate industry at Legacy Partners Residential Development, Inc., and at CBRE. He earned a Bachelor of Business Administration degree from the University of Mississippi.

“Colin’s a critical new addition to our Agency lending team, bringing over a decade of expertise and relationships to Greystone,” said Mr. Mejia. “I’m thrilled to welcome him to our Irving office as he continues to serve clients in Texas and beyond with Greystone’s industry-leading capital solutions.”

Greystone, a leading national commercial real estate finance company, announced that its Low Income Housing Tax Credit (LIHTC) Syndication Platform, Greystone Real Estate Capital, has added four senior members to its team. Mr. Mike Callahan has been appointed  Senior Vice President, Director of Investment Management; Mr. Benjamin Jarvis has been appointed Senior Vice President, Developer Production; Mr. Michael Egidi has been appointed Vice President, Investor Production; and Mr. Spencer Gordon has been appointed  Vice President, Director of Credit & Underwriting.

“It’s gratifying to grow a team of committed professionals who have such deep experience in affordable housing equity and finance, and we are energized to make an impact on the sector as we develop Greystone’s LIHTC syndication platform,” said Mr. Greg Voyentzie, head of Greystone Real Estate Capital. “Mike, Ben, Michael, and Spencer will serve as key assets to the Greystone Real Estate Capital team as we build out our platform, which will have the unique advantage of support from Greystone’s nimble, creative teams and diverse set of business lines and resources.”

Mr. Callahan previously spent 28 years with Boston Capital serving as the Director of Asset Management and was a member of the Investment, Disposition, and Management Committees. At Boston Capital, Mr. Callahan was responsible for a team of over 60 professionals monitoring and reporting on the performance of the firm’s $16 billion affordable housing portfolio, including both lower-tier asset management and upper-tier investor relations functions. Mr. Callahan designed and implemented strategic objectives for the department and created policies and criteria for monitoring portfolio performance. In addition, he led the development of proprietary software designed to address the asset management needs of tax credit portfolios. Mr. Callahan holds a Bachelor’s degree from Providence College and an M.B.A. from Vanderbilt University’s Owen School of Management.

Mr. Jarvis has over 19 years of multifamily affordable housing experience in originating, structuring, negotiating and closing Low Income Housing Tax Credit (LIHTC) transactions nationwide. Prior to joining Greystone, Mr. Jarvis served as Director of Acquisitions for Redstone Equity Partners where he sourced, evaluated and structured LIHTC transactions throughout the Midwest region. He was also responsible for marketing Redstone’s multifamily equity products, developing and managing client relationships, participating on state housing finance agency coalitions and QAP advisory boards. Prior to that role, Mr. Jarvis served as Vice President of Acquisitions at Boston Capital where he originated and closed over $1 billion of LIHTC equity investments nationally. He was responsible for marketing Boston Capital’s multifamily housing products, establishing new developer relationships and originating investment opportunities for multi and proprietary funds. Mr. Jarvis holds a Bachelor’s degree from Salve Regina University and a Certificate in Real Estate Finance from Boston University.

Mr. Egidi, with over 15 years of affordable housing industry experience, is responsible for asset selection, fund placement, structuring, marketing, and management of institutional investor relationships for Greystone Real Estate Capital. Throughout his career, Mr. Egidi has been involved in the development, capital raising, underwriting and closing of over $2 billion of investor capital into tax advantaged investment funds. Prior to joining Greystone, he was a Vice President of Investor Relations with WNC & Associates Inc. in its tax credit syndication business. Responsible for raising equity, coordinating due diligence, and closing investors into proprietary tax credit partnerships, he originated and syndicated proprietary fund partnerships representing over $175 million in gross equity. Prior to joining WNC, he spent over 10 years in varying roles in the Community Finance group with Capital One Financial Corporation, most recently as Director and Team Lead of multi-investor equity originations and underwriting, supporting Capital One’s community development finance strategy and CRA lending and investment goals. Mr. Egidi holds a Bachelor’s degree from the University of Michigan, an M.B.A. from the Booth School of Business at the University of Chicago, and holds the Chartered Financial Analyst® designation. Mr. Egidi also holds Series 22 and 63 securities licenses through FINRA.

Mr. Gordon, bringing over 12 years of affordable housing experience, provides Credit & Underwriting direction and guidance for all of Greystone Real Estate Capital’s investments. Having been involved in the capital raising, underwriting, and closing of over $1 billion of investor capital into tax advantaged investment funds, Mr. Gordon joins Greystone from PNC Bank, N.A. where he was a Senior Underwriting Manager, VP in the Tax Credit Solutions business. Managing a team of LIHTC equity and debt underwriters delivering investor and bank capital into proprietary and multi-investor tax credit partnerships, his team closed over $700 Million in LIHTC, Historic and Solar tax credit equity into tax credit developments. Prior to joining PNC, Mr. Gordon was an Assistant Vice President, Account Manager with Boston Financial, where he analyzed, structured, and closed LIHTC multifamily affordable housing transactions. While there, he also served as a Vice President, Capital Officer, responsible for implementing, structuring and managing a new $100 million proprietary relationship. He holds a Bachelor of Business Administration from the Cox School of Business at Southern Methodist University.

These new roles are integral to the growth of Greystone Real Estate Capital, which will deploy capital for the preservation and new construction of affordable housing communities across the U.S., and ultimately create jobs, generate tax revenue for municipalities, and positively enhance the lives of families, seniors, minorities, veterans, and those with disabilities who seek affordable housing.

Securities transactions are processed through INTE Securities LLC dba Greystone INTE BD, member FINRA www.finra.org  www.sipc.org. For information regarding INTE Securities LLC go to www.finra.org/brokercheck.

Greystone, a leading national commercial real estate finance company, has provided $19,050,000 in Bridge-to-Agency financing for a 118-unit multifamily property in Bellflower, California. Intended to facilitate the refinancing and construction of additional units, the bridge loan was originated by Dale Holzer, Managing Director at Greystone.

Tower Apartments, located 14 miles southeast of downtown Los Angeles and spread across 1.56 acres, was acquired by the borrower in 2022 and completely renovated with over $3.5 million in capex. The property contains a three-story building with studio, one-, two-, and three-bedroom units and community amenities including a pool and laundry facilities.

The interest-only bridge financing provided by Greystone carries a two-year term with two, six-month extension options, and is intended to fund the construction of 15 additional units in the building for a total of 133 units.

“Greystone’s Bridge-to-Agency option can help property investors get a head start on implementing their long-term plans for an asset, providing capital during construction, renovations and stabilization,” said Mr. Holzer.