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Greystone, a leading national commercial real estate finance firm, announced that its affiliate, Greystone Commercial Mortgage Capital has formed a joint venture with Inlet Real Estate Capital to provide short-term, floating rate capital solutions for commercial real estate owners.
Targeting complex or potentially distressed situations during today’s challenging market, Greystone Inlet Real Estate Capital will provide debt and equity recapitalization solutions for multifamily, industrial, office, mixed use, and other property types, needing additional time and capital in order to execute the business plan and stabilize the property. The joint venture will offer flexible structured capital solutions such as first mortgages, mezzanine loans, preferred equity, common equity investment, or a hybrid of multiple structures. Upon stabilization, the strategic joint venture between Greystone and Inlet will provide Sponsors with direct access to long-term, fixed rate financing through Greystone’s other lending platforms such as CMBS and Agency financing. The joint venture will target transactions ranging in size from $5 million to $50 million on assets located throughout the United States.
Inlet Real Estate Capital was founded in 2021 and is led by Ryan Jantzen and Adam Saltzman. Inlet is a private real estate investment company that focuses on originating and managing first mortgages, mezzanine loans, preferred equity, and other structured credit investments, as well as equity investments, secured by commercial and residential real estate properties. Since forming Inlet, the company has accumulated over $100 million in assets under management. Prior to forming Inlet, Mr. Jantzen was Co-Head of Origination at Ladder Capital and Mr. Saltzman was an Executive Director at Ladder Capital. The duo has over 25 years of combined experience on both the production and credit sides of the commercial and residential real estate business, structuring and analyzing a range of complex transactions totaling more than $7.5 billion during their experiences.
“With a record number of loan maturities expected within the next year, CRE investors and lenders may find themselves in a difficult position to refinance, frequently at less than expected proceeds or less than optimal rates, so we are offering short-term, creative financing solutions to allow borrowers to successfully recapitalize their properties,” said Mr. Jantzen. “This recapitalization strategy is a win-win for both the property owner and the joint venture.”
“Greystone’s broad financing platform is a perfect complement to the Inlet offering, which is also highly flexible, to meet a range of complex and evolving financing needs during a challenging time in the real estate capital markets,” said Mr. Rich Highfield, head of Greystone’s CMBS platform. “With our CMBS platform as an exit option, among others, we have full confidence that this short-term, floating rate solution will give property investors the time and space they need to prepare for a more permanent solution.”