Greystone, a leading national commercial real estate finance firm, announced that it has hired Mike Casavant as a Managing Director, Ryan Carlin as a Director, and JP Chisholm as a Director to its rapidly growing New York-based Greystone Commercial Capital (GCC) team. GCC originates institutional structured commercial mortgage loans and subordinate debt for all property types.
Mike Casavant joins as a Managing Director and Head of Credit and Underwriting. Prior to Greystone, Mr. Casavant was Head of Underwriting for Real Estate Structured Finance at Bank of America Securities, Inc., where he oversaw closing and securitization, with a volume of $40 billion of commercial mortgages. Mike’s previous experience includes serving as co-head of Underwriting at Ladder Capital Finance, LLC, and Senior Vice President at Lehman Brothers, Inc. Mike is a graduate of Bentley University.
Ryan Carlin joins as a Director of Capital Markets & Syndications. Ryan has recently served as Vice President of originations at Amherst Capital Management and earlier served as Vice President for Cantor Fitzgerald’s CMBS platform. Mr. Carlin is a graduate of Eastern Connecticut State University.
JP Chisholm joins as a Director of Originations, with a focus on Agency Production, FHA, CMBS, and balance sheet production. Previously, Mr. Chisholm served as Chief Operating Officer of Subsea Environmental Services. He also served as Investment Officer for the Philips Academy (Andover) Endowment and was a Research Fellow at the Library of Congress. Mr. Chisholm is a graduate of Columbia University.
Messrs. Casavant, Carlin and Chisholm report to Jeffrey Lavine, Senior Managing Director and Chief Operating Officer for GCC. Mr. Lavine reports to Scott Chisholm and joined the GCC team in September 2022. Jeff has more than 30 years of real estate finance experience leading teams across all aspects of commercial real estate, with stints at UBS, and Bear, Stearns & Co. He is a graduate of Tufts University and holds an M.B.A from Columbia Business School. He also received his law degree from Boston University.
GCC also hired Matt Zisler in September 2022. Mr. Zisler has more than 20 years’ experience in commercial real estate finance. Matt joined Greystone as Senior Managing Director focused on structured and preferred equity solutions. Matt has worked at Heitman, Broe Capital and Ackman Ziff, and is a graduate of Boston College.
“Greystone Commercial Capital now offers an even deeper bench of institutional capital markets knowledge, relationships, and experience. These additions complement Greystone’s existing franchise,” said Scott Chisholm, President, and Chief Investment Officer of GCC. “The caliber of the GCC team is a testament to Greystone’s commitment to the commercial mortgage structured products business. Together, we will continue to outperform for our clients, including borrowers and capital partners.”
Greystone is Top Multifamily Lender by Volume for Combined Fannie Mae DUS® Small Loans and Freddie Mac Optigo® Small Balance Loans
Greystone, a leading national commercial real estate finance company, announced it has ranked as the #1 overall Agency Small Loans lender by volume for 2022. The combined volume of delivered Fannie Mae DUS® Small Loans and Freddie Mac Optigo® Small Balance Loans for this period, over $1.1 billion, is the highest combined volume of all GSE lenders in the U.S.
“The small loan lending market is the backbone of multifamily workforce housing in America – oftentimes considered small “a” affordable housing, which so many rely on for housing near work and family,” said Rick Wolf, Head of Greystone’s National Small Loan platform.
“We remain committed to the small loan market, and completely align with Fannie Mae and Freddie Mac’s mission to support this multifamily asset class as a critical component to creating and preserving workforce housing in the U.S. We thank both GSEs for their continued support of the small loans programs, and look forward to another successful year in 2023,” Wolf continued.
About Greystone
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.
Greystone, a leading national commercial real estate finance company, has provided a $20,301,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) Green Rewards loan to refinance an 87-unit multifamily property in North Ogden, Utah. The financing was originated by Lorie Hanson, Managing Director at Greystone, with Johnny Clawson from The Clawson Group, Inc. acting as correspondent.
Constructed in 2020, Patriot Pointe Apartments in Weber County is a townhome community with one-, two- and two-bedroom units. The $20,301,000 non-recourse, fixed-rate financing carries a 10-year term and 30-year amortization, with full-term interest-only payments. The property achieved a Fannie Mae Green Globes certification for its energy upgrades. In addition to refinancing, loan proceeds enable the borrower to monetize a portion of the equity in the property.
“At Greystone, our number one priority is to secure the right financing for the multifamily properties in our clients’ portfolios in every economic environment,” said Ms. Hanson. “Our clients know that we will leverage our deep multifamily expertise and deliver an exceptional experience on each transaction.”
“We go to Greystone because they do outstanding work – we trust their insights and experience as a leader in multifamily finance,” said Mr. John Hansen and Mr. Ken Crockett, principals of the borrower. “We bring our Greystone team as our partner on every transaction because their financing capabilities and quality of service exceed our expectations every time.”
Greystone, a leading national commercial real estate finance company, has provided $15,656,000 in Freddie Mac Optigo® financing to acquire a 208-unit multifamily property in Indianapolis, Indiana. The financing was originated by Miryam Reinitz-Kops, Vice President in Greystone’s New York office. George Tikijian of Cushman & Wakefield acted as correspondent on the transaction.
Constructed in 1989, Trails at Lakeside in Marion County is a garden-style apartment community consisting of six buildings that offer one-, two- and three-bedroom units. The $15,656,000 non-recourse, fixed-rate Freddie Mac loan carries a 12-year term and 30-year amortization, with three years of interest-only payments. In addition to the acquisition, loan proceeds enable the borrower to make improvements to the property.
Capodagli Property Company, led by George Capodagli, President, has recently initiated a new mandate to expand its footprint beyond New Jersey, where the company currently owns and operates a few thousand units of self-built multifamily. “Indianapolis is an ideal market for our growth plans and we are looking forward to building a strong presence there,” said Jim Feisel, Vice President at Capodagli Property Company, who is heading up this expansion initiative.
“Clients trust Greystone because of our deep financing platform and unparalleled industry acumen – we pride ourselves in finding creative solutions for every transaction,” said Ms. Reinitz-Kops. “Our goal is to provide a superior service experience on every transaction so our clients can realize the goals they have for all of the properties in their portfolios.”
Greystone, a leading national commercial real estate finance company, has provided a $24,080,000 HUD 223(f) loan to refinance an 89-unit affordable housing property in Stamford, Connecticut. The loan was originated by Jon Morales, Senior Vice President at Greystone, on behalf of New Neighborhoods, Inc.
Located on Stillwater Avenue, Martin Luther King Apartments is a 100% Section 8 multifamily property. The HUD-insured financing is a 35-year loan at a low, fixed rate. As part of the financing, the owner obtained a 20-year HAP contract for the property, preserving affordability long-term. The 13-story high-rise building contains 22 one-bedroom units, 45 two-bedroom units, and 22 three-bedroom units with a community room and laundry facilities as resident amenities.
“Greystone understands the nuances of the affordable housing market, particularly Section 8 properties, and their mission aligns with ours as we continually look to invest in quality housing for core markets in the Northeast,” said Jamey Healy, President & CEO, New Neighborhoods, Inc.
“Greystone was diligent in their work to close this complex financing, and we are thrilled with the ability to reinvest back into the property to ensure its viability as a critical asset to the Stamford market,” added Jerome Floyd, Operations Director, New Neighborhoods, Inc.
“We are thrilled to work on this HUD loan for Jamey and his team and are delighted to get them the proceeds and terms they needed in order to set the property up for continued long-term success,” said Mr. Morales. “We strive to earn our client’s trust in each new transaction by coupling our deep lending platform and multifamily capabilities with exceptional service and care.”
Former Freddie Mac Executive Takes on More Active Role in Greystone’s Multifamily Origination Business
Greystone, a leading national commercial real estate finance company, announced Rich Martinez has been promoted to Head of Production, Agency Lending, after joining the firm in 2022 as Executive Managing Director, Multifamily Sales & Production. In this new role, effective immediately, Mr. Martinez will lead all Agency loan origination efforts, particularly market-rate multifamily for Fannie Mae and Freddie Mac, for which Greystone is a top lender.
In his continued role as part of Greystone’s lending leadership team, Mr. Martinez will also focus on expanding Greystone’s institutional borrower network, recruiting and expansion geographically, and enhancing and optimizing the firm’s joint venture relationship with Cushman & Wakefield, which provides a comprehensive suite of advisory services to property investors nationwide.
Prior to joining Greystone, Mr. Martinez served as Senior Vice President of Production & Sales at Freddie Mac, where he worked for over 34 years in various roles. While there, he worked across a variety of asset classes and geographies and gained a holistic view of the national multifamily landscape.
“Rich has made a significant impact on Greystone’s lending business already, and I am so thrilled that he will be taking on a larger role in expanding and growing our platform and reach in the multifamily sector,” said Chip Hudson, head of Greystone’s Agency lending platform. “Rich’s experience, leadership, and deep industry knowledge make him uniquely qualified to lead our production efforts going forward.”
“I am energized to continue driving growth at Greystone, particularly at a time when we are committed to making new opportunities in a challenging market,” added Mr. Martinez. “The team is highly motivated to help clients throughout the changing economic landscape, and we have the solutions to meet their needs.”
