Greystone, a leading national commercial real estate finance company, announced it has been recognized by Realcomm with a 2024 Digie Award for Best Use of AI in Commercial Real Estate.
Greystone was recognized for its implementation of AI to transform real estate processes and significantly reduce manual efforts, by 85%, in its audits and data reconciliation. Greystone applied AI tools for the extraction, comparison and analysis of data in lease documents and third-party reports in order to streamline and enhance decision-making capabilities.
“AI has proven to be a valuable tool for the CRE sector that helps reduce redundancy in tasks and increase efficiency, ultimately enabling our transaction teams to work more strategically,” said Beth Hamilton, Executive Vice President, IT Strategy & Operations. ”We thank Realcomm for this honor and the recognition of our efforts.”
The Digie award winners were announced at Realcomm | IBcon 2024. Since its inception in 1999, this prestigious award recognizes outstanding companies, real estate projects, technologies and the next generation of smart, connected, high-performance, intelligent building systems, that have gone above and beyond to positively impact and transform our industry using technology, automation and innovation.
Greystone, a leading national commercial real estate finance company, has provided a $74,576,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan to refinance a 672-unit multifamily property in Burleson, Texas. The financing was originated by Avi Kozlowski, a Managing Director at Greystone.
Constructed in 2023, Shannon Creek Apartments in Johnson County is a garden-style community with 24 buildings featuring one- and two-bedroom units. Property amenities include a clubhouse, fitness center, business center, game/media room, yoga room, resort-style swimming pool, barbeque area, dog park and care station, and sports courts. The $74.6 million non-recourse, fixed-rate financing is part of Fannie Mae’s Green Building Certification program and features a five-year term and 30-year amortization, with full-term interest-only payments.
“We leave no stone unturned when finding financing solutions that help our clients achieve their goals for their properties,” said Mr. Kozlowski. “We leverage our well-diversified lending platform and lean into our multifamily experience for every transaction, so every Greystone client can achieve exceptional outcomes.”
Greystone, a leading national commercial real estate finance company, has provided a $14,500,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan to refinance a 216-unit multifamily property in Hoover, Alabama. The financing was originated by Rob Meehan, Managing Director at Greystone, with HKS Capital Partners acting as correspondent.
Constructed in 1983, 700 Riverchase in Shelby County is a garden-style apartment community with 12 buildings featuring one-, two- and three-bedroom units. The property’s amenities include a fitness center, laundry facilities, swimming pool, outdoor grill center, dog park, playground and pickleball court. The $14,500,000 non-recourse, fixed-rate financing features a five-year term and 30-year amortization, with interest-only payments for the full term of the loan.
“Greystone’s well-diversified lending platform and our longstanding multifamily experience mean that we can get creative when helping our clients find the right financing terms in most markets,” said Mr. Meehan. “Our goal is to help our clients bring the vision for their properties to life, and we work to ensure that every phase of loan transaction is executed seamlessly.”
“Our experience with Greystone was incredible – our team understood our needs quickly and crafted the right financing solution for our property,” said Mr. David Topping, principal of the borrower. “We appreciated their insights, expertise and attention to detail at every stage, and we look forward to working with them in the future.”
Greystone, a leading national commercial real estate finance company, and Cushman & Wakefield, a leading global real estate services firm, jointly announced they provided acquisition financing for, and arranged the sale of, respectively, a 344-unit two-property multifamily portfolio in Maryland.
The Fannie Mae Delegated Underwriting & Servicing (DUS®) loans were originated by Dan Sacks, Senior Managing Director, and Alex Basile, Executive Director, of Greystone on behalf of Olivetree Management, with Jorge Rosa and Anthony (TJ) Liberto advising on the sale of the properties for Cushman & Wakefield.
The properties were acquired for approximately $73.5 million total and financed with Fannie Mae loans totaling $57 million. The communities, Columbia Apartments and Town Center Apartments, boast 94% occupancy in the high growth, highly desirable Columbia suburb of Baltimore, Maryland.
“This transaction represents a true collaboration for our teams, culminating in a repeat client of ours acquiring the properties and Greystone being able to provide the acquisition financing with Cushman & Wakefield advising on the sale,” said Mr. Sacks. “In today’s market, with high volatility, it’s gratifying to provide a smooth execution for our client and to have the success of our joint venture with Cushman & Wakefield validated.”
Greystone, a leading national commercial real estate finance company, has provided a $15,486,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan to refinance a 252-unit multifamily property in Albany, Georgia. The financing was originated by Rob Meehan and Avrom Forman, both Managing Directors at Greystone, with Yehuda Heller of Seven Stone Capital acting as correspondent.
Constructed in 1987, 509 North Apartments in Dougherty County is a garden-style apartment community with 14 buildings featuring one- and two-bedroom units. The property’s amenities include a clubhouse, laundry facilities, four swimming pools, a dog park along with tennis and volleyball courts. The $15.9 million non-recourse, fixed-rate Fannie Mae loan features a seven-year term and 30-year amortization.
“We know that borrowers have a choice and deeply appreciate when they come to Greystone for our expert guidance in uncovering the right financing for their unique needs,” said Mr. Meehan. “Our deep expertise in the multifamily sector and extensive lending platform means that we bring the right tools to the table for any loan transaction.”
“Greystone’s reputation for being the best in the business is well-deserved – not only did our team possess incredible technical acumen and market savvy but their attention to detail and client service was remarkable,” said Mr. Leon Shweky, principal of the borrower. “Even in today’s market, Greystone put together a financing solution that sets us up for long-term success for an outcome that was even better than we had anticipated.”
Fannie Mae Alumnus Brings Deep Multifamily, Student Housing, and Structured Finance Expertise to Greystone’s Lending Platform
Greystone, a leading national commercial real estate finance company, announced that William “Bill” Iacobucci has joined the firm as a Senior Director, Real Estate Lending. In this role, he will leverage his experience as former co-head of Fannie Mae’s Student Housing Finance Team and Structured Finance to lead Greystone’s lending efforts in these areas. Based in Atlanta, Mr. Iacobucci reports to Senior Managing Directors Charlie Mentzer and Brad Waite.
Immediately prior to joining Greystone, Mr. Iacobucci served as Fannie Mae’s Vice President of Multifamily Structured Finance where he was primarily responsible for Credit Facilities and Large Portfolio/Bulk Deliveries across the Fannie Mae Multifamily DUS® platform, developing relationships with Lenders and Borrowers, sourcing loans, and executing transactions in these areas across a $64 billion loan portfolio. He also previously served as a Senior Director – Multifamily National Account Management at Fannie Mae, as well as Director of Fannie Mae Multifamily Credit – Northeast Region.
Earlier in his career, Mr. Iacobucci was Vice President of Community Development at SunTrust Bank, where he focused on LIHTC developments and neighborhood revitalization plans. He also spent 10 years as Founder and CEO of Regency Advisors International, Inc., a multi-faceted real estate consulting firm specializing in the development of affordable housing, loan portfolio management, bankruptcy litigation and loan workout resolutions. He has also held roles at various financial institutions including Financial Federal Savings Bank as Vice President of Commercial Loan Portfolio Management and GSE Multifamily Servicing & Origination; National Bank of Commerce as Vice President & Whole Loan Trader of Commerce Investments; Freddie Mac as Regional Portfolio Manager, Southeast Multifamily Region; and, Johnstown Mortgage Company as a Senior Commercial Real Estate Loan Officer.
Mr. Iacobucci holds a Bachelor’s degree from Georgia State University and has served as a Charter Investor and Advisory Board Member of United Americas Bank (aka Banco Unidos- Atlanta, GA), a Federally chartered De-Novo Hispanic Bank; is a past inductee to the Leadership Sandy Springs, a 501c(3) corporation focusing on relationship development and outreach with key business leaders within Metropolitan Atlanta and the City of Sandy Springs; is a past Board Member of the Sandy Springs Foundation; is a past Board Member of Sandy Springs Revitalization, Inc.; and, is a past Board Member of the Atlanta Hispanic Chamber of Commerce, a 501c(3) corporation responsible for the promotion of business within the Hispanic Community and between Hispanic and non-Hispanic businesses.
“Bill is a powerhouse addition to our team, and his background is so diverse and wide-ranging, that there’s no limit to what he can contribute here at Greystone,” said Mr. Mentzer. “We are so thrilled to have his leadership and expertise on our team as we stay laser-focused on growth and driving value for our clients.”
"We are thrilled to welcome Bill to our team," said Mr. Waite. "With his decades of experience in the industry, Bill brings a wealth of knowledge and a proven track record of success. His expertise will be invaluable as we continue to innovate and drive growth, ensuring that we remain a leading lender. We look forward to the positive impact Bill will undoubtedly have on Greystone and our clients."
