Greystone, a leading national commercial real estate finance company, has provided a $41,664,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan to refinance a 280-unit multifamily property in Cape Coral, Florida. The financing was originated by Kyle Jemtrud, Managing Director at Greystone, with Kevin Coscia of Largo Capital acting as correspondent.

Constructed in 2022, The Palms at Cape Coral in Lee County is a garden-style apartment community with five buildings featuring one-, two- and three-bedroom units. The property’s amenities include a clubhouse, fitness center, swimming pool, pet park and pickleball court. The $41,664,000 non-recourse, fixed-rate Fannie Mae loan features a 10-year term and 30-year amortization, with five years of interest-only payments.

“We truly appreciate that our client chose Greystone again for finding the right long-term financing for another property in their portfolio,” said Mr. Jemtrud. “When it comes to navigating the multifamily lending process, clients rely on our extensive industry expertise and deep lending platform for solutions that meet their needs in any market.”

“We are thrilled that Greystone was able to refinance this property and set us up for long-term success,” said Mr. Bryan Young, principal of the borrower. “Once again, we are impressed with Greystone’s multifamily capabilities and high standard of service excellence – they are a true partner who delivers invaluable insights on every transaction.”

Greystone, a leading national commercial real estate finance company, announced that its Low Income Housing Tax Credit (LIHTC) Syndication Platform has added Sarah Laubinger as Chief Operating Officer and Todd Jones as Chief Investment Officer. Both executives report to Greg Voyentzie, Chief Executive Officer of the LIHTC Syndication Platform known as Greystone Real Estate Capital.

In their roles, Ms. Laubinger and Mr. Jones will focus on growing 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.

Prior to joining Greystone, Ms. Laubinger spent over 25 years at Boston Financial, an ORIX company, and offers almost three decades of affordable housing production experience to the team, having raised capital from investors, cultivated developer relationships, and structured, underwrote, and closed LIHTC investments. Under Sarah's leadership, Boston Financial's annual LIHTC production market share expanded from under $300 million to over $1.3 billion annually and successfully deployed $200 million in Affordable Housing Preservation Equity (Non-LIHTC). Sarah also led Boston Financial’s Community Development Financial Institution (CDFI) initiative and successfully obtained CDFI designation by the United States Department of the Treasury as the only national, for-profit affordable housing syndicator-affiliate CDFI in the country. Sarah has been both recognized by Affordable Housing Finance as one of America’s top women in affordable housing and honored by Preservation Massachusetts with the Paul & Niki Tsongas Award for her outstanding commitment to the revitalization of safe and affordable housing throughout the Commonwealth.

Mr. Jones joins Greystone with over 19 years of affordable housing experience and a track record of being involved in raising over $11 billion of institutional capital for tax-advantaged investment funds. He most recently served as the Head of Tax Credit Equity Production at Boston Financial, where he was both a member of its Executive Committee and Investment Committee. While there, he was responsible for leading the day-to-day strategic direction of the company’s tax credit syndication business, including national originations, asset selection, pricing, structuring, and marketing of its tax credit equity funds, as well as all investor sales and relations activities of the firm. Prior to joining Boston Financial in 2012, Mr. Jones was Vice President and Manager of Institutional Sales at PNC Financial Services Group where he led the sales and marketing efforts of its national LIHTC investment funds. He is a past board member of the Affordable Housing Tax Credit Coalition (AHTCC) and continues to remain active in advocating on behalf of the tax credit industry and affordable housing.

“I’m thrilled to welcome Sarah and Todd to Greystone, where we will work together again to advance the production of affordable housing nationwide,” said Mr. Voyentzie. “With the support of Greystone’s diverse range of financing platforms, resources, and relationships, I am so optimistic about the impact we can make for both existing clients and new relationships. This is truly the opportunity of a lifetime to build a team and platform within such an entrepreneurial and altruistic organization.”

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, announced that Debby Jenkins and Mordecai Rosenberg have been appointed Co-Presidents of the firm’s comprehensive lending business platform, effective immediately, and will report directly to Steve Rosenberg, founder and CEO of Greystone. Together, Ms. Jenkins and Mr. Rosenberg will seek to elevate, expand, and innovate across a variety of lending disciplines, including the firm’s Agency debt, HUD-insured lending, CMBS, equity, structured finance, proprietary products, debt placement and advisory services, and loan servicing platforms.

“We gained significant market share in 2023 and are poised for immense growth in 2024 as we anticipate fundamentals to drive demand for the unique set of products and services offered by Greystone, along with the strength of our partnership with Cushman & Wakefield,” said Mordecai Rosenberg. “The real secret to our success has always been our people. I look forward to partnering with Debby in service of our team members and clients.”

“As we continue to focus on Greystone’s core businesses, our new structure will enable our growth and increased collaboration as we connect our various industry-leading disciplines and adapt to changing market dynamics,” said Ms. Jenkins. “I am thrilled to take on this new challenge alongside Mordecai, as well as build out our banking channel focus and alternative capital platform and enhance our capital markets capabilities. Our collective goal is to build off of Greystone’s amazing 35-year history and to continue to elevate our market leadership and brand throughout the industry.”

“We are assembling a dream team to absolutely turbocharge our business, and I couldn’t think of two better stewards to drive our lending platforms forward,” said Steve Rosenberg. “At its heart, Greystone is a place where people matter, and our growth is rooted in our commitment to making an impact on the world.”

He continued, “Debby and Mordecai bring complementary skillsets that include, most importantly, building successful teams that are laser-focused on client service, and I am confident that Debby and Mordecai’s new roles will greatly benefit Greystone’s borrowers, industry partners, and employees.”  

Greystone currently ranks as the #4 overall GSE lender by volume, based on recently-released public data on 2023 lending volume from Fannie Mae and Freddie Mac, and also ranks as the #1* multifamily and healthcare lender in volume for HUD-insured loans during its fiscal year ending September 30, 2023.

Greystone, a leading national commercial real estate finance company, has provided a total of $16,114,000 in Fannie Mae Delegated Underwriting & Servicing (DUS®) loans to refinance four multifamily properties totaling 136 units across Smith County, Texas. The financing was originated by Stella Plotkin, Vice President in Greystone’s New York office.

Each of the non-recourse, fixed-rate loans in the portfolio carries a 10-year term and 30-year amortization schedule, with interest-only payments for the first two years. The portfolio includes:

·        $7,523,000 for the 64 units at 16246 and 16374 County Road 4100 in Lindale;

·        $4,519,000 for the 36-unit Shadow Wood Circle in Whitehouse;

·        $2,469,000 for the 20 units at 14235 and 14227 County Road 452 in Lindale; and

·        $1,603,000 for the 16-unit Fonda Apartments in Whitehouse.    

“Greystone works tirelessly to earn our clients’ trust, tapping into our extensive multifamily lending platform so clients achieve their goals,” said Ms. Plotkin. “Clients benefit from our unmatched industry expertise and enjoy a great service experience, which are the hallmarks of every Greystone transaction.”

“Greystone took exceptional care in crafting a financing solution that was just right for this portfolio,” said Mr. Richard Hillard, principal of the borrower. “We couldn’t be happier with our team’s diligence and responsiveness throughout the process and we’re even more pleased with the end result.”

Greystone, a leading national commercial real estate finance company, announced that Leena Amin has joined the firm as a Senior Managing Director, Structured Finance. In this role, Ms. Amin will focus on expanding the firm’s bank and alternative capital relationships as well as developing and expanding Greystone’s structured product advisory and capital markets offerings. Based in Virginia, Ms. Amin reports to Executive Managing Director Debby Jenkins, who joined Greystone in 2023.

Prior to joining Greystone, Ms. Amin spent a decade at Freddie Mac where she, amongst other things, led the Multifamily Structured Transactions team. In this role, she developed and led the Affordable Housing and Conventional Multifamily Structured teams and provided oversight of Freddie Mac’s M and Q deal programs. During her time in this role, she led a team that financed over $10 billion in structured transactions volume. Prior to this, she served in the Multifamily Capital Markets division, managing a team that priced fixed and floating rate multifamily loans and leading executions of CMBS structured transactions of more than $20 billion.

Earlier in her career, Ms. Amin spent time at Cohen & Company, an alternative fixed income asset manager and broker dealer. There, she oversaw execution and management of trust preferred securities and subordinated debt while also advising community banks on restructuring of their balance sheets, as well as the origination and placement of FDIC insured debt. Ms. Amin earned a Bachelor’s degree in Economics and Political Science at Temple University and an MBA at Drexel University’s LeBow College of Business. She has also served as an Adjunct Professor on Financial Institutions at George Mason University.

“Leena’s deep expertise in structured deal dynamics and capital markets will be integral as we build out Greystone’s structured finance and capital markets offerings,” said Ms. Jenkins. “I look forward to collaborating with her as we continue to expand Greystone’s capabilities and enhance our market presence as a leader and premier capital partner for the multifamily sector.”

Greystone Ranks #4 for Overall, Combined Agency Lending with $7.7 Billion in Total Volume

Firm Achieves Ranking of #3 Overall Lender by Volume for Fannie Mae, #6 Overall for Freddie Mac;

Maintains #1 Fannie Mae Small Loans Ranking

Greystone, a leading national commercial real estate finance company, announced it gained both volume and market share in the Agency lending sector during 2023, achieving an overall #4 ranking for both Fannie Mae Delegated Underwriting and Servicing (DUS®) loans and Freddie Mac Optigo® loans with $7.7 billion in total volume. Individually, Greystone ranked #3 as an overall Fannie Mae lender in 2023, and #6 for Freddie Mac lenders. Despite the market experiencing lower commercial loan volume overall in 2023, Greystone increased its combined Agency loan volume by 14% year-over-year. The rankings are based on recently-released public data on 2023 lending volume from Fannie Mae and Freddie Mac.

Greystone Asserts Leadership Position in Various Agency Loan Types

In 2023, Greystone ranked #1 for volume for all lenders in Fannie Mae Small Loans, #2 in both Seniors Housing and Student Housing asset financing, and #4 overall in both Affordable Housing and Green financing volume. 

Through its work with Freddie Mac, Greystone ranked #2 overall for lending volume dedicated to Affordable Housing, as well as #2 overall for Freddie Mac’s Small Balance Loan program. Greystone also ranked #5 among all lenders producing Seniors Housing volume with Freddie Mac.

“Greystone’s growth in market share over the past year – particularly in a challenging lending environment – is a testament to the commitment and dedication our team has given to delivering the best solutions and service to our clients across a variety of asset types in multifamily,” said Rich Martinez, head of Agency production at Greystone. “I am incredibly proud of our teams for their hard work and close partnership with both Fannie Mae and Freddie Mac to provide much-needed financing for mission-driven housing and multifamily assets overall.”

Greystone also ranks as the #1* multifamily and healthcare lender in volume for HUD-insured loans during its fiscal year ending September 30, 2023.

*For HUD’s 2023 fiscal year. Based upon combined firm commitments of Greystone Funding Company LLC and Greystone Servicing Company LLC.