Greystone, a leading national commercial real estate finance company, has provided a total of $79,125,000 in Fannie Mae Delegated Underwriting & Servicing (DUS®) loans to refinance three multifamily properties totaling 939 units in and around Tucson, Arizona. The financing was originated by Dan Wolins, Managing Director at Greystone on behalf of affiliated entities of HSL Properties, Inc.

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

·        $36,618,000 for the 323-unit Desert Sands Apartments, in Casa Grande in Pinal County;

·        $29,360,000 for the 456-unit Canyon Oaks Apartments in Tucson in Pima County; and

·        $13,147,000 for the 160-unit Brittany Court Apartments, also in Tucson in Pima County.         

“Clients rely on Greystone because we know the ins and outs of multifamily finance, and are careful and creative in our approach,” said Mr. Wolins. “Tapping into our extensive lending platform, our main objective is to help clients realize their goals for all of the properties in their portfolio.”

“Greystone has earned our trust – our team’s diligence and creative problem-solving always exceeds expectations,” said Mr. Omar Mireles, president of HSL Properties, Inc. “In our experience, the company’s reputation for excellence in multifamily finance and client service is well-deserved – it’s why we keep coming back.”

Young Brings Over 15 Years of Expertise in Senior Housing Finance, Operations, and Restructuring

Greystone, a leading national commercial real estate finance company, announced that David Young has joined the firm as a Managing Director for healthcare finance. In this role, Mr. Young will focus on originating and structuring senior loans for Greystone’s FHA lending platform as well as other permanent financing options such as bridge, Fannie Mae, and Freddie Mac. Based in the New York area, Mr. Young reports to Christopher Clare, Managing Director for healthcare finance at Greystone.

Prior to joining Greystone, Mr. Young was a Managing Director at Locust Point Capital, where he originated and structured over $2 billion in senior housing and skilled nursing debt and equity, including preferred and joint venture capital. Earlier in his career, Mr. Young served as Chief Financial Officer for Radiant Senior Living. During his time there, he repositioned the 20-community regional operator through triple net lease restructuring, identifying divestitures and accretive acquisitions, and overseeing sales and marketing efforts. Mr. Young has also previously served as a Vice President of Finance for Aegis Living, focusing on sourcing and negotiating $300 million in loans, bonds, mezzanine debt, and equity. He has also worked in underwriting for healthcare loans at Lancaster Pollard. Mr. Young earned a Bachelor’s degree from New Saint Andrews College in Idaho and an MBA from University of Notre Dame.

“David’s expertise on the finance structuring side, as well as the operator side of senior housing and skilled nursing, will be invaluable to our growing, active team as we focus on helping clients to optimize their portfolios and deliver the most dedicated execution on the best possible solutions for their needs,” said Mr. Nikhil Kanodia, head of Greystone’s FHA lending platform.

Greystone, a leading national commercial real estate finance company, has provided a $40.3 million Freddie Mac Optigo® loan to refinance a 432-unit multifamily property in Crown Point, Indiana. The financing was originated by Eric Rosenstock and Dan Sacks, both Senior Managing Directors at Greystone, on behalf of Bayshore Properties.

Purchased by the borrower in 2021 with bridge financing, Hidden Creek Apartments received capital improvements in excess of $725,000 on more than 25% of the units, as well as exterior renovations of over $659,000. Originally constructed in 1976, the property comprises one- and two-bedroom units spread across twelve residential buildings with community amenities including a swimming pool, fitness room, playground, disc golf course, clubhouse, and ample outdoor space. The $40,309,000 non-recourse, fixed-rate Freddie Mac loan carries a 10-year term.

“Despite today’s more difficult financing environment, it’s gratifying to be able to provide a long-time client with continued high-touch service as they grow their multifamily portfolio,” said Mr. Rosenstock.

“Eric, Dan and the Greystone team have been nothing short of excellent as we navigated a higher rate environment and worked to add value to this quality asset for its long-term success,” said Mr. Nick Kozul of Bayshore Properties.  

Greystone, a leading national commercial real estate finance company, announced that banking industry veteran Steven Caligor has joined the firm as a Senior Managing Director of Structured Finance. In this new role, he will focus on managing and expanding client relationships and channels of loan origination for Greystone within the banking sector. Mr. Caligor is based in Greystone’s New York office.

Prior to joining Greystone, Mr. Caligor was an Executive Vice President at BHI (Bank Hapoalim) USA, where he managed the bank’s national commercial real estate and healthcare verticals with total loans in excess of $4 billion. With nearly 30 years of industry experience, Mr. Caligor has held a variety of executive positions overseeing sales, credit, and portfolio monitoring at Signature Bank, Monticello Asset Management, and Bank Leumi.

“This is an exciting new challenge for me to leverage my commercial banking, real estate, and healthcare experience within Greystone’s diverse product platform,” said Mr. Caligor. “The banking sector is invaluable to private lenders like Greystone and there is so much opportunity for new avenues of capital access, client acquisition and financial partnerships. I’m thrilled to join the team and help expand the platform.”

“Steve’s long tenure in banking, proven history in growing businesses, and his strategic background is going to be invaluable to our team as we continue to invest in ways to best service our existing and new client base and help them grow and succeed,” said Ms. Debby Jenkins, Executive Managing Director and to whom Mr. Caligor reports.

Greystone, a leading national commercial real estate finance company, has provided a total of $21,808,000 in loans to refinance three multifamily properties in Tampa, Florida. The financing was originated by Anthony Cristi, Managing Director at Greystone.

The properties include the 33-unit Palms at Humphrey, the 36-unit Oaks at University, and the 95-unit Uptown Gardens community. The Greystone loans, featuring a private-label offering, with competitive, shorter loan terms and flexible pre-payment options, carry 5-year terms with fixed rates and 30-year amortizations, and include interest-only payments for periods ranging from one to five years.

“It’s gratifying to be able to offer a solution that fits the client’s needs to refinance this collection of multifamily properties,” said Mr. Cristi. “We’re always seeking ways to develop new financing options for our clients as the market evolves, and are pleased to offer a private-label solution when banks or other debt options may not fit the bill.”

Greystone, a leading national commercial real estate finance firm, provided $25,200,000 in Fannie Mae DUS® financing to refinance a 208-unit property in Columbus, OH. The loan was originated by Avi Kozlowski, Managing Director at Greystone.

The non-recourse Fannie Mae financing is a 10-year loan with a fixed rate, and is interest-only for five years. The property, comprising 13 two-story buildings, was built in 1999 and is 97.12% occupied. Property amenities include a clubhouse/leasing office, swimming pool, grilling station, dog park, covered parking, and pond.