Greystone’s FY2021 Volume for Multifamily and Healthcare Loan Firm Commitments Totals $4.43 Billion, Ranking #1 with 27% Year-Over-Year Growth
Greystone announced it ranks #1 based on dollar volume of multifamily and healthcare Firm Commitments issued by the U.S. Department of Housing and Urban Development (HUD) for the agency’s 2021 fiscal year ending September 30, 2021. During this period, Greystone originated and obtained Firm Commitments for 243 HUD-insured loans totaling $4.43 billion, representing 12.61% overall market share – the largest of all commercial lenders – for HUD-insured multifamily and healthcare loans.
Greystone ranked highest based on dollar volume for Firm Commitments issued under HUD’s MAP program with $3.39 billion in origination volume for 160 multifamily properties, as well as HUD’s LEAN program, totaling $1.04 billion in origination volume for 83 healthcare properties, which include skilled nursing and assisted living facilities. In total, Greystone’s HUD production represents a 27% increase year-over-year, signifying that the firm’s best-in-class execution sets an example for the industry.
“Despite the many challenges that property owners faced in the last year with a continuing pandemic, interest rates remained historically low, presenting an opportunity to refinance for the long term and potentially extract capital for a borrower to invest back into their assets,” said Nikhil Kanodia, head of Greystone’s FHA lending group. “These two strategies are a great fit for a HUD-insured financing solution, which provides the longest loan terms and lowest rates in the market. With time constraints, Greystone’s bridge lending platform seamlessly fills that capital need. We are solely focused on helping our clients reach their goals and look forward to continued partnership with HUD.”