Greystone, a leading national commercial real estate finance company, announced that Romano Tio, Senior Managing Director, has joined the Commercial finance team led by Scott Chisholm, based in New York. In this role, Mr. Tio will focus on large loan origination across an array of platforms while working to expand the firm’s lending activities to a broader scope of commercial asset classes.

With 30 years of relevant CRE industry experience, Mr. Tio joins Greystone from Ackman-Ziff, where he was a Senior Managing Director. Having managed $10 billion in transactions, he has served as an advisor and principal in many commercial, residential, and hospitality deals on the East Coast. Prior to joining Ackman-Ziff, Romano co-founded RM Capital Management, where he was responsible for all aspects of the business including debt and equity capital advisory, as well as recapitalizations and restructurings on behalf of public companies, private equity funds, and entrepreneurial owners and operators. Previously, Mr. Tio was Co-Founder and Co-Head of Distressed Commercial Mortgage Principal Investments at HCP Real Estate, an affiliate of multibillion-dollar hedge fund Harbinger Capital Partners.

“Greystone’s breadth and depth of capital markets capabilities are a unique offering in the market, and I look forward to leveraging these in the market for clients across a broad spectrum of asset classes,” said Mr. Tio. “Working with Scott on his ambitious growth of Commercial and large loan services at Greystone is a truly exciting prospect-turned-reality.”

“I’m thrilled Romano has joined our team here at Greystone, where the sky is the limit in advising clients on their capital market needs,” added Mr. Chisholm.

Greystone, a leading national commercial real estate finance company, has provided a total of $20 million in Fannie Mae Delegated Underwriting and Servicing (DUS®) loans to refinance two multifamily properties with 168 units in Philadelphia, Pennsylvania. Both transactions were originated by Dan Sacks, Managing Director in Greystone’s New York office.

For the refinancing of Holme Circle in Philadelphia, Greystone provided a fixed rate, $10,500,000 Fannie Mae DUS loan with a 10-year term and 30-year amortization, and four years of interest-only payments. The 102-unit multifamily garden apartment community was constructed in 1964, and Greystone had provided the existing Freddie Mac loan on the property in 2018.

Greystone also provided a fixed rate, $9,600,000 Fannie Mae DUS green loan with a 10-year term, 30-year amortization and four years of interest-only payments for Laverock Place Apartments, a 66-unit mid-rise apartment community built in 1968 in Philadelphia. The loan proceeds refinance the existing Freddie Mac loan on the property, which Greystone also provided in 2018.

“Our team excels at helping clients find the right financing for each of the multifamily properties in their portfolios in every market cycle,” said Mr. Sacks. “Greystone’s commitment to seamless execution and a quick close means that clients can have the flexibility they need to realize their vision for these properties over the long-term.”

Greystone, a leading national commercial real estate finance company, has provided $12,458,000 in Fannie Mae Delegated Underwriting and Servicing (DUS®) financing for a 32-unit student housing property in Boulder, CO. The transaction was originated by Richard Kourbage, managing director at Greystone on behalf of Zargo Invest.

The $12.5 million Fannie Mae loan refinances existing Fannie Mae debt on View House and carries a fixed rate with a 10-year term and 30-year amortization, and five years of interest-only payments. Built in 1968 and located less than one mile from The University of Colorado Boulder, View House is situated on 0.73 acres. The property offers one, two-, and three-bedroom units and is 100% occupied.

Property amenities at View House include laundry facilities, controlled access/gated, and off-street parking, with units featuring vaulted ceilings, in-unit washer and dryer, a separate beverage refrigerator, and additional den space. In addition to the university, View House is within walking distance of Pearl Street Mall and boast views of the Flatirons.

“Despite the challenges the student housing sector has faced during the pandemic nationally, there has been sustained, strong demand for quality housing such as View House,” said Mr. Kourbage. “We are thrilled we could provide a successful refinance on this property, which is a high-quality asset serving the lively CU Boulder community.”

Greystone, a leading national commercial real finance company, has arranged a $65 million construction loan for Capodagli Property Company. The construction loan was provided by ACORE Capital (“ACORE”), a leading commercial real estate finance company and debt fund manager, to finance a to-be-developed multifamily project totaling 325 multifamily units, 16,000 square feet of retail, and a 518-space parking garage, located at 10 Westfield Avenue West in Roselle Park, NJ.

The development is conveniently located less than 20 miles from New York City and is designed to appeal to young professional renters by providing a high-quality product at competitive prices. Capodagli will deliver a comprehensive amenity package including a courtyard, fitness center, meeting rooms, and lounge.

Greystone Capital Advisors, led by President Drew Fletcher, and with assistance from Vice Presidents Miryam Kops and Bryan Grover, served as the exclusive advisor in arranging the financing on behalf of Capodagli.

“Over the past 40 years, Capodagli has grown into one of New Jersey’s premier real estate development, investment and management companies. The firm’s strong leadership and hands-on approach to design and construction allows it to consistently deliver a high-quality differentiated rental product for the middle market,” said Mr. Fletcher. “We are excited to have delivered this execution and look forward to growing our relationships with Capodagli and ACORE.”

“We are our enthusiastic and thankful to work with the town of Roselle Park on our second multifamily project within town. They have been pivotal in helping us carry on our mission to bring affordable housing to the middle-class with a class A product,” said George Capodagli, Founder of Capodagli. “Greystone and ACORE were a pleasure to work with on this transaction and we look forward to working with them in the future,” said Mr. Capodagli.

Director Kory Klebanoff, who originated the loan for ACORE, stated, “Capodagli has found an impressive niche developing well-amenitized apartments at an affordable rent in densely populated areas throughout New Jersey. George and Drew, and their respective teams, have been great to work with and we look forward to expanding our relationship with them.”

Greystone, a leading national commercial real estate finance company, has provided $17,244,000 in Freddie Mac financing for the acquisition of a 222-unit multifamily property in Harrison Charter Township, Michigan. The transaction was originated by Dan Sacks, Managing Director in Greystone’s New York office, on behalf of Lightstone.

The non-recourse $17.2 million Freddie Mac loan carries a fixed rate with a 10-year term and 30-year amortization, with five years of interest-only payments. In addition to the acquisition, loan proceeds will be used for capital expenditures and property renovations.

Originally built in 1968, The Shores of Lake St. Clair is an award-winning, 13-building, garden-style community of renovated studios, one- and two-bedroom units with modern finishes and appliances, private outdoor living spaces and in select units, wood-burning fireplaces. Residents of the pet-friendly community can enjoy the clubhouse, fitness center, swimming pool, sports court and playground, as well as on-site laundry facilities and parking. Located northeast of Detroit in “Boat Town U.S.A.,” the property is close to the area’s parks and outdoor recreation, retailers and entertainment, and offers easy access to Interstate 94.

“At Greystone, we thrive on using our extensive multifamily financing platform to put together the right resources for our clients,” said Mr. Sacks. “Our passion for the multifamily space is second only to our commitment to delivering a seamless and unparalleled client experience on every transaction.”

“This acquisition is part of the strategic expansion of our national multifamily portfolio and it is exciting to be part of this thriving community,” said David Lichtenstein, Chairman and CEO of Lightstone. “We are also pleased to have completed another successful financing with Greystone, whose team has consistently provided us with both efficient and thorough service for many years.”

Seats to Continue Momentum of Greystone’s #1 FHA Platform as Senior Vice President, FHA Production                                                                              

Greystone, a leading national commercial real estate finance company, announced that C. Lamar Seats has joined as Senior Vice President, FHA Production, effective immediately. In this role, Seats will oversee origination teams at Greystone handling multifamily, affordable housing and construction finance via HUD-insured programs.

Mr. Seats joins Greystone from the U.S. Department of Housing and Urban Development, where he served as Deputy Assistant Secretary of Multifamily Housing Programs for three years, overseeing $21 billion in production in FY2020. He was previously a Managing Director at M&T Realty Capital Corporation and served as Chief Executive officer of Bellwether Enterprise Real Estate Capital LLC upon acquisition by Enterprise Community Investment Inc, where he was Senior Vice President and head of the mortgage banking group. Earlier in his career, Mr. Seats worked in commercial loan roles at Reilly Mortgage Group, Wells Fargo Bank, Bankers Trust Company, and USF&G Corporation.

Greystone currently ranks as the #1 FHA commercial mortgage provider for 2020, having originated over $5 billion in multifamily and healthcare loans last year, representing the largest market share of all commercial lenders. 

“After gaining critical experience in public service and seeing the dedication and impact of HUD’s role in multifamily housing, working with the Greystone team is a natural next step,” said Mr. Seats. “The working relationship between FHA and Greystone continues to thrive, helping to finance billions in needed housing. I am thrilled with the opportunity to further grow and expand Greystone’s FHA lending platform.”

“Lamar is highly respected in the industry, and I am beyond excited for the potential in growing our FHA lending capabilities with his expertise and guidance,” added Nikhil Kanodia, head of Greystone’s FHA Lending Group, and to whom Mr. Seats reports. “After the record-breaking momentum of last year, we hope to continue to build out our industry-leading platform with Lamar’s leadership.” 

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.