Greystone, a leading national commercial real estate finance company, announced that it has assisted Cross River Bank (“Cross River”) in completing a $288 million non-agency CMBS securitization, backed by 59 loans secured by 67 properties across four states, and rated by Moody’s and Morningstar DBRS.
The transaction, CRB 2025-CRE1, was managed on behalf of Cross River by Greystone’s Structured Products group, including Leena Amin, Senior Managing Director; Greg Darling, Managing Director; Director Max Garelick, Structurer Scott Fuller; and Vincent Mattaliano, Analyst.
“This transaction marks a landmark achievement — the first of its kind for Cross River Bank and only the second CMBS securitization backed by seasoned, community bank-originated loans concentrated in the Tri-state Area,” said Greg Darling, Managing Director in Greystone’s Structured Products group. “The complexity and nuances of this transaction highlight the depth of experience, ability to innovate, and collaborative strength of both Cross River Bank and Greystone Structured Products.”
“This milestone showcases how we’re innovating in both capital strategy and market engagement,” said Shimon Eisikowicz, Executive Vice President, Chief Lending Officer, and Head of the Commercial Banking Group at Cross River. “By bringing a seasoned loan portfolio to market through this structure advised by Greystone, we’re unlocking new channels to meet client needs and advance our long-term growth objectives.”
“Greystone’s leadership and expertise were instrumental in helping us navigate the complexities of this transaction” said Bhavik Khatri, Vice President of Syndications at Cross River.
For more information about the transaction, readers may refer to the presale reports published by Moody’s and Morningstar DBRS, available on their respective websites.
Refinance Supports Continued Investment in Sloane Chelsea, a 266-Unit Apartment Building in the Heart of NYC
Greystone, a leading national commercial real estate finance company, announced the closing of a $30,000,000 Freddie Mac Conventional loan for Sloane Chelsea, a 266-unit high-rise multifamily property located at 360 West 34th Street in New York, NY. The financing was originated by Robert Meehan, Managing Director at Greystone.
Originally constructed in 1930 and fully renovated in 1996, Sloane Chelsea offers a mix of studio, one-, two- and three-bedroom units, along with upscale amenities including a fitness center, laundry facilities, private storage, and 24-hour attended lobby. Recent upgrades to the property include renovations to 180 units and planned elevator modernization. The property is located in Manhattan’s Chelsea neighborhood, steps from Penn Station, Madison Square Garden, and major retail and transit hubs.
“Sloane Chelsea is a prime example of long-term ownership and stewardship of a historic New York asset,” said Mr. Meehan. “We’re pleased to support the Kibel and Gardner families with a financing solution that allows them to continue enhancing the property’s value while preserving financial flexibility.”
Greystone, a leading national commercial real estate finance company, announced that Joe James has joined the company as Head of Asset Management for Bridge Lending. Based in Dallas, he is responsible for overseeing all aspects of Greystone’s healthcare and multifamily bridge loan asset management platform, including portfolio analysis, surveillance, and problem loan resolution.
Mr. James brings more than 30 years of commercial real estate finance experience to Greystone, having worked across all major markets and property types, including multifamily, healthcare, senior housing, office, industrial, and mixed-use developments. He has extensive experience across the capital stack, from bridge loans and senior debt to joint venture partnerships, equity and construction financing. In his role at Greystone, Mr. James reports to Rick Dugoff, Head of Greystone’s Bridge Lending Platform.
“We are thrilled to welcome Joe to our growing bridge lending team,” said Mr. Dugoff. “His proven track record in asset management and deep understanding of the healthcare and multifamily sectors will be invaluable as we continue to expand to meet market demand.”
Prior to joining Greystone, Mr. James served as Co-Chief Credit Officer at Preston Hollow Capital, where he oversaw a $2.9 billion high-yield bond portfolio secured by construction transactions, affordable housing, mixed-use commercial real estate, senior housing, healthcare, and hospitality assets. He also was a Partner with Frontier Equity/Holt Lunsford Commercial, overseeing its portfolio of industrial and office assets. Mr. James spent more than 20 years with GE Capital Real Estate in a variety of risk and asset management roles, including serving as Global Asset Management & Operations Leader responsible for a $90 billion commercial real estate portfolio. A certified Six Sigma Master Black Belt with demonstrated expertise in systems integration and process improvement, he has created and deployed asset management database systems and business intelligence platforms that managed billions in commercial real estate assets globally.
Greystone, a leading national commercial real estate finance company, has provided $46,972,000 in Freddie Mac financing to refinance a two-property multifamily portfolio totaling 674 units in Houston, Texas. The financing was originated by Gill Dolan, Managing Director at Greystone.
The two Houston properties offer residents a range of well-maintained, garden-style apartment homes with access to amenities such as gated entry, onsite laundry facilities, dedicated parking, and outdoor communal spaces. Approximately 65% of the units across the portfolio have been renovated with modern finishes and upgraded fixtures, with additional improvements underway to further enhance quality of life. Strong occupancy rates reflect the properties’ appeal in a high-demand submarket within the context of Houston’s growing need for affordable multifamily housing.
“Greystone has shown time and again our ability to structure agency loans that fit our clients’ needs, especially in a market as competitive as Houston,” said Mr. Dolan. “These financings aren’t just about lowering rates or achieving proceeds—they’re about setting owners up for long-term success and improving the quality of housing in the communities we serve.”
Greystone, a leading national commercial real estate finance company, has provided an $18,850,000 HUD-insured loan to refinance Ellwood, a 140-unit multifamily property located in Baltimore, Maryland. The financing was originated by Avi Lifshitz, Managing Director at Greystone.
The FHA-insured financing allows the borrower to secure long-term, fixed-rate debt for the asset while benefiting from the program’s non-recourse structure and favorable terms. Ellwood, located in a growing residential corridor of Baltimore, continues to offer essential housing for the local community.
“FHA financing remains one of the most powerful tools for multifamily borrowers looking to maximize loan proceeds,” said Mr. Lifshitz. “Greystone is proud to support our clients with the depth of experience needed to navigate the HUD process.”
Greystone, a leading national commercial real estate finance company, has arranged a $43,500,000 debt placement to refinance a Class A independent living community in Oregon. The financing was sourced by David Young, Managing Director.
The 142-unit property is a recently built and stabilized Class A+ independent living community featuring upscale amenities tailored for senior residents. The debt placement, with a regional bank, includes a competitive floating rate priced in the 200s over SOFR, enabling the sponsor to refinance existing senior and subordinate construction debt, return capital to investors, and position the asset for a future permanent agency execution.
“We ran a targeted process across both banks and debt funds to source financing that would meet a stretch target for our client,” said Mr. Young. “With strong trailing cash flows albeit on a shorter trailing period but a demonstrably clear upward trend, we were able to achieve highly favorable execution that materially exceeded expectations.”
