Cushman & Wakefield (NYSE: CWK) announced today that it finalized its strategic investment of $500 million in Greystone, a leading national commercial real estate finance company, acquiring a 40% stake in Greystone’s Agency, FHA and Servicing businesses.
With this investment, Cushman & Wakefield and Greystone have officially closed and entered into a previously announced strategic joint venture to deliver best-in-class advisory services and capital solutions to existing, joint and new clients of both firms nationwide. Greystone intends to use the capital to create innovative product offerings which will position the company for future expansion.
“Our goal is to build the finest multifamily platform in the country, and by integrating our respective capabilities, we can now offer our clients a seamless, full-service advisory experience,” said Andrew McDonald, Chief Executive, Americas, Cushman & Wakefield.
Greystone is a top multifamily lender, including HUD, Fannie Mae DUS®, Freddie Mac Optigo®, and bridge financing, now giving Cushman & Wakefield’s client base more direct access to a broad range of debt products for property acquisition, refinancing or substantial rehab / new construction. In turn, Cushman & Wakefield brings a well-established network of advisory professionals in core U.S. markets, enabling both firms, together, to offer commercial property investors a holistic, one-stop approach.
“By bringing together our areas of expertise, we are committed to leading the multifamily market,” said Stephen Rosenberg, Founder and CEO, Greystone. “This strategic joint venture and investment in Greystone significantly enhances the ability to execute on our clients’ investment strategies and our own plan for growth.”