Joining from Freddie Mac, Lam Will Oversee Underwriting for More Than $1 Billion in Transactions Per Year
Greystone, a leading commercial real estate lending, investment, and advisory company, announced that Jerry Lam has been named Chief of Credit for its Freddie Mac Small Balance Loans platform. As a Top 3 lender for Freddie Mac SBL transactions, Greystone consistently originates over $1 billion in loans for this category, which includes financing for multifamily properties between 5 and 50 units and loans from $1 million up to $7.5 million.
Mr. Lam joins Greystone from Freddie Mac, where he most recently served as Director of Credit for its SBL platform and a senior member of the credit team. Prior to his tenure at Freddie Mac, Mr. Lam held a variety of production and underwriting roles at companies including Barings Capital, Capital One Bank (formerly Beech Street Capital), PNC Bank, and Highridge Costa Housing Partners.
Mr. Lam earned a Bachelor’s degree in Business Administration from California State University, Fullerton. He will be located in Greystone's growing Newport Beach, California office, reporting to Leah Purvis, Managing Director and Chief Credit Officer for Greystone’s Agency Small Loans platform.
“Jerry’s experience at Freddie Mac, as well as at a diverse range of lenders in the private sector, will contribute to the Greystone advantage for our clients, which includes delivering a best-in-class execution, step-by-step client support and guidance, and leveraging our role as one of the pioneers of Freddie Mac’s SBL platform,” said Ms. Purvis. “We are thrilled to add Jerry’s expertise in process excellence and risk management best practices to our industry-leading small loans platform, and are excited to see the team thrive under his leadership.”
Greystone, a leading commercial real estate lending, investment, and advisory company, announced it has appointed Alex Papathomas as Chief Technologist for its Greystone Labs division to oversee the continued development and rollout of proprietary software serving Greystone’s commercial real estate clients.
In this new role as Chief Technologist, Mr. Papathomas will amplify Greystone’s innovation efforts in digitally assessing real estate investors’ needs, providing real-time quotes and property analysis, and ultimately shepherding a borrower seamlessly through the loan process in record time. Since 2014, the Greystone Labs team, formerly led by Zac Rosenberg, has been laser-focused on transforming the way the commercial lending market operates by developing customer-facing applications powered by machine learning and AI.
Prior to joining Greystone, Mr. Papathomas served as a Vice President at RealtyMogul, a real estate crowdfunding and investing platform, where he built a proprietary loan underwriting system that was ultimately acquired by Hunt Real Estate Capital in February 2019. Prior to that role, he was Chief of Staff and an underwriting lead at Investors Bank. Earlier in his career, Mr. Papathomas was an equities analyst for Alternative Energy Investing LLC.
“Greystone’s existing technology provides an unparalleled advantage for its clients, and my vision is to build upon that solid foundation to provide an ever-evolving and best-in-class experience for borrowers,” said Mr. Papathomas. “With a focus on speed and user experience, I am confident that Greystone’s technology will be a continued differentiator for its lending platform.”
“As the founder of the Greystone Labs division, I know that the future of Greystone’s digital customer experience and back-end capabilities to close loans at lightning speed are in good hands with Alex,” said Zac Rosenberg. “There is no denying that these factors are what will define the leaders in commercial mortgage financing in the near future.”
Greystone, a leading commercial real estate lending, investment, and advisory company, announced it has appointed Alex Papathomas as Chief Technologist for its Greystone Labs division to oversee the continued development and rollout of proprietary software serving Greystone’s commercial real estate clients.
In this new role as Chief Technologist, Mr. Papathomas will amplify Greystone’s innovation efforts in digitally assessing real estate investors’ needs, providing real-time quotes and property analysis, and ultimately shepherding a borrower seamlessly through the loan process in record time. Since 2014, the Greystone Labs team, formerly led by Zac Rosenberg, has been laser-focused on transforming the way the commercial lending market operates by developing customer-facing applications powered by machine learning and AI.
Prior to joining Greystone, Mr. Papathomas served as a Vice President at RealtyMogul, a real estate crowdfunding and investing platform, where he built a proprietary loan underwriting system that was ultimately acquired by Hunt Real Estate Capital in February 2019. Prior to that role, he was Chief of Staff and an underwriting lead at Investors Bank. Earlier in his career, Mr. Papathomas was an equities analyst for Alternative Energy Investing LLC.
“Greystone’s existing technology provides an unparalleled advantage for its clients, and my vision is to build upon that solid foundation to provide an ever-evolving and best-in-class experience for borrowers,” said Mr. Papathomas. “With a focus on speed and user experience, I am confident that Greystone’s technology will be a continued differentiator for its lending platform.”
“As the founder of the Greystone Labs division, I know that the future of Greystone’s digital customer experience and back-end capabilities to close loans at lightning speed are in good hands with Alex,” said Zac Rosenberg. “There is no denying that these factors are what will define the leaders in commercial mortgage financing in the near future.”
Greystone, a real estate lending, investment, and advisory company, announced it has provided a $35,500,000 Fannie Mae Delegated Underwriting and Servicing (DUS) loan to refinance a newly-constructed multifamily property, Fitzroy Chenal, in Little Rock, AR. The transaction was originated by Clint Darby, a Managing Director at Greystone.
The $35.5 million near stabilization Fannie Mae loan carries a 12-year term and 30-year amortization period at a low, fixed rate. The 294-unit Fitzroy Chenal is a new construction property offering a range of amenities including a community clubhouse, pool, recreational lounge, fitness center, business center, cybercafé with high speed internet, conference room, game room, poker/wine room, storage units, interior mailroom, golf simulator, dog-wash station, dog park, and electric charging stations.
“The key aspect of this financing being a success for the borrower was monitoring the leasing activity from the early stages and engaging with the Agencies’ timing for rate lock,” said Mr. Darby. “We are constantly monitoring for the optimal time to lock in, and this lease-up loan product from Fannie Mae provides a fantastic long-term option for a construction financing exit while the property becomes stabilized.”
“We leaned on Clint and his team to execute the best terms for this refinance in conjunction with the earliest point we could rate lock with rates being so advantageous,” said Brandon Huffman, Principal for the borrowing entity. “We are incredibly proud of this new project, and the high demand so far has validated our efforts in bringing high-quality housing to the Little Rock market.”
Greystone, a leading commercial real estate lending, investment, and advisory company, announced it has provided $7,075,000 in bridge financing for the acquisition of a 90-bed skilled nursing facility in Plainfield, Conn. Originated by Lisa M. Fischman of Greystone, the loan is intended to be converted to permanent FHA-insured financing.
Greystone provided the bridge loan to Curtis Rodowicz and Robert J. Darigan, for Colonial Health & Rehab, and is working on the permanent financing package for FHA, which will include a 35-year non-recourse loan at a low, fixed rate.
“We are thrilled to leverage Greystone’s seamless Bridge and HUD programs together to close the acquisition of Colonial Health & Rehab,” said Mr. Rodowicz. “This asset speaks to our commitment to our local community, and as the now owner/operator, we look forward to ensuring that the residents and their families can benefit from the beautiful amenities we offer for a long time to come.”
“It is truly gratifying to help Curtis and Bob complete this acquisition,” said Ms. Fischman. “Greystone’s bridge platform was a perfect fit. Our seamless bridge-to-HUD process has already begun and will save them a tremendous amount of time. Every member of the Colonial team is compassionate and professional, and I have no doubt their portfolio will grow and prosper.”
Greystone, a leading commercial real estate lending, investment, and advisory company, announced that it has provided a $32,226,600 FHA-insured loan to finance the construction of The Vic at Southwinds Apartment Homes, a new market-rate 265-unit green-certified project in Baytown, Texas. The FHA construction-to-perm loan was originated by Jason Stein of Greystone on behalf of Sanford P. Aron of Hunington Properties, Inc.
The FHA-insured financing for the property located at 1900 Kilgore Parkway is a ground-up construction loan that converts to a 40-year permanent, fixed-rate, non-recourse fully amortizing loan after completion and stabilization. With this green-certified and energy efficient project, the borrower also qualifies for reduced Mortgage Insurance Premium (MIP).
The market-rate property’s eight, three-story garden-style buildings will offer 1-, 2- and 3-bedroom units with high-end finishes, in-unit washer/dryers and private yards. Residents will be able to enjoy amenities such as a fitness center and indoor playground, clubhouse and pool, conference room and business center, beer garden, two dog parks, attached garages, and parking for boats and recreational vehicles. The property’s location near several interstate highways will offer convenient access to neighborhood retail and employment centers, as well as Baytown’s central business district and the southeastern suburbs of Houston. The first residents are expected to move in during the Summer of 2020.
“I couldn’t be more excited to be part of this new construction project outside of Houston, which will meet the high demand for new rental stock in this growing submarket,” said Mr. Stein.
“Our Greystone team’s expertise and deep background in FHA finance resulted in bringing this transaction to a quick close,” said Mr. Aron. “We needed a trusted, knowledgeable partner to be our guide throughout the FHA financing process, and we found one in Greystone.”
