Greystone and Cushman & Wakefield jointly announced they provided acquisition financing for, and arranged the sale of, respectively, Country Place Apartments, a 312-unit multifamily property in Burtonsville, Maryland.
Cushman & Wakefield’s Anthony “TJ” Liberto, Managing Director, and Jorge Rosa, Executive Managing Director, represented the seller in the $62.5 million transaction. Alex Basile, an Executive Director at both Greystone and Cushman & Wakefield, originated a $40.7 million, 7-year Freddie Mac Optigo® loan to finance the acquisition.
Country Place Apartments boasts a range of amenities, including an outdoor pool, fitness center, landscaped exercise paths, on-site dog park, playground, Tech Bar and car care center. The property is located just off Route 29 in Montgomery County, with easy access to major commuter routes like the ICC, I-95, and I-495. Residents can enjoy the shopping, dining, and entertainment options in Burtonsville or in nearby Silver Spring, Laurel, and Columbia.
“Country Place was purchased in a very creative structure utilizing a buy-right PILOT afforded to buyers in Montgomery County to maintain affordability for residents. Our sales execution in an everchanging investor landscape shows that attractive debt and pricing is attainable,” said Jorge Rosa, Executive Managing Director at Cushman & Wakefield.
"Greystone’s collaboration with Cushman & Wakefield enables our clients to benefit from end-to-end solutions for all of their property investment needs," said Alex Basile, Executive Director at both Greystone and Cushman & Wakefield.
Greystone, a leading national commercial real estate finance company, has provided a $90 million Fannie Mae Delegated Underwriting & Servicing (DUS®) Affordable Housing (MAH) loan to refinance a 317-unit multifamily property in Yonkers, New York. The financing was originated by Eric Rosenstock, Senior Managing Director in Greystone’s New York office.
Built in 1974, Cromwell Towers Apartments in Westchester County is a 12-story building consisting of one-, two-, and three-bedroom income- and rent-restricted units. The $89,989,000 non-recourse, fixed rate financing features a five-year term and 35-year amortization, with two years of interest only payments. The Bond- and LIHTC-encumbered property is covered by a long-term HAP contract that includes 99% of the units, which converts to a new 27-year HAP contract upon closing. All of the units are restricted to 60% Area Median Income (AMI) for residents.
“Greystone is committed to executing on transactions that enable our clients to provide quality affordable housing to individuals and families in New York City and beyond,” said Mr. Rosenstock. “Our extensive experience in multifamily lending and our deep understanding of the complex affordable housing market mean we can deliver the right financing solution to our clients in a variety of markets.”
“Greystone’s position as a top Affordable lender for Fannie Mae has contributed to decades of experience and successes on behalf of our clients in this sector,” added Jeff Englund, head of Affordable lending at Greystone.
“We come back to Greystone because we trust their expertise in helping us navigate the affordable housing finance landscape,” said Mr. Scott Jaffee, principal of the borrower, a repeat Greystone client. “On every transaction, Greystone exceeds our expectations with financing solutions that ultimately work to the benefit of the individuals and families who call our properties ‘home’.”
Brown to Focus on Multifamily Financing Solutions in the Midwest
Greystone, a leading national commercial real estate finance company, announced that Jason Brown has joined the firm as a Managing Director. Based in the Indianapolis market, Mr. Brown will focus on providing multifamily financing solutions across Greystone’s broad range of debt platforms, including Fannie Mae, Freddie Mac, HUD/FHA, bridge, and CMBS, and debt & equity placement services.
Prior to joining Greystone, Mr. Brown was a Managing Director at Berkadia in Indianapolis where he originated over $1 billion in loans during his four year tenure. Previously, he also served as a Senior Vice President at CBRE Capital Markets, where he worked for 13 years and orchestrated complex deals spanning the Agencies, insurance, debt funds, and bank financing. Mr. Brown served previous roles at iCap Realty Advisors and Fifth Third Bank, both in Detroit.
“Jason’s Midwest roots will enable Greystone to expand its presence in a region poised for rent growth and overall multifamily demand in 2025,” said Mr. Vince Mejia, Senior Vice President, Agency production at Greystone, and to whom Mr. Brown reports. “With more than 25 years of industry experience and client relationships under his belt, Jason is sure to be an asset to Greystone’s top-ranked lending platform.”
Greystone ranks in the Top 10 for total production volume of both Fannie Mae and Freddie Mac loans in 2024, based on recently-released public data on 2024 lending volume. Greystone also ranks as the #1* multifamily and healthcare lender in volume for HUD-insured loans during its fiscal year ending September 30, 2024.
Greystone, a leading national commercial real estate finance company, has provided a $20,777,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan to refinance a 206-unit multifamily property in Allentown, Pennsylvania. The financing was originated by Avi Lifshitz and Aviel Hematian of Greystone on behalf of Pankaj Sharma of S&S Properties.
Wynnewood Greens, built in 1975, comprises 18 low-rise, three-story buildings. The community includes 1-, 2-, and 3-bedroom units, 271 parking spaces, and was originally acquired by the sponsor in 2008. The property’s amenities include balconies and patios, picnic areas, and laundry facilities. The non-recourse Fannie Mae financing is a seven-year fixed-rate loan with full-term interest-only.
“Greystone strives to help our clients find the best solutions for their capital needs,” said Mr. Lifshitz. “We’re committed to helping them navigate today’s market and unlock equity from their assets to enable growth in their property portfolios.”
Firm Achieves Ranking of #6 Overall Lender by Volume for Fannie Mae, #8 Overall for Freddie Mac; Ranks #1 for Fannie Mae Small Loans Volume in 2024 and 7th Overall for Both GSEs Combined
Greystone Servicing Company LLC, a leading national commercial real estate finance company, announced it ranks in the Top 10 for total production volume of both Fannie Mae and Freddie Mac loans in 2024. Greystone ranks as the #6 lender for Fannie Mae Delegated Underwriting and Servicing (DUS®) loans and as the #8 lender for Freddie Mac Optigo® loans. In total, Greystone ranks as the #7 overall lender for combined Fannie Mae and Freddie Mac loan volume for this period. The rankings are based on recently-released public data on 2024 lending volume from Fannie Mae and Freddie Mac.
In 2024, Greystone once again ranked #1 for volume for all lenders in Fannie Mae Small Loans, illustrating its commitment to middle-market and workforce housing markets nationwide.
“Greystone is committed to helping Fannie Mae and Freddie Mac achieve their mission-driven housing goals – in any market environment – and we celebrate the work they’ve done to date to help support affordable, seniors, and workforce housing nationally,” said Charlie Baxter, head of Agency lending at Greystone. “We are thrilled to be a consistent top lender, and this achievement is a testament to our close working relationship with the GSEs as we navigate the market together.”
Greystone also ranks as the #1* multifamily and healthcare lender in volume for HUD-insured loans during its fiscal year ending September 30, 2024.
*For HUD’s 2024 fiscal year. Based upon combined firm commitments of Greystone Funding Company LLC and Greystone Servicing Company LLC.
Greystone, a leading national commercial real estate finance company, has provided a $11,749,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan to refinance a 61-unit multifamily property in Amityville, New York. The financing was originated by Jesse Yodice, Director at Greystone.
Originally constructed in 2013, Wellington Park Villas in Suffolk County, Long Island, is a townhome-style apartment community featuring two-bedroom units set across five residential buildings. The property’s amenities include a fitness center, lounge, laundry facilities, sundeck and onsite parking. The $11,749,000 non-recourse, fixed-rate loan features a five-year term and 30-year amortization, with interest-only payments for the first two years of the term.
“Greystone’s multifamily experience, coupled with our careful and creative approach, helps clients achieve their goals quickly and seamlessly,” said Mr. Yodice. “We’re committed to serving clients well by leveraging our deep lending platform to bring them exceptional solutions in any market.”
