Rich Highfield Joins Greystone to Lead Expanded, Proprietary CMBS Conduit Platform
Greystone announced that Rich Highfield has joined the firm to lead its CMBS lending platform and expansion into a fully proprietary conduit offering for multifamily and commercial assets. Mr. Highfield is based in Charlotte, North Carolina and reports to Kevin Williams, Executive Vice President at Greystone.
Mr. Highfield brings over 25 years of experience in the CRE and CMBS sectors, and joins Greystone from Starwood Mortgage Capital, where he most recently served as President, having led the CMBS / conduit platform. Previously, he also served in a variety of roles as a Director at Blackrock Solutions and as a Principal at Banc of America Securities, from originating to servicing CMBS loans as well as advisory capacities to larger institutions on portfolio debt and B-piece positions.
In leading Greystone’s CMBS platform, Mr. Highfield will oversee the platform’s expansion as a proprietary offering that will be a more seamless, direct source of long term, fixed-rate debt for property investors in multifamily, office, retail, mixed-use, manufactured housing, industrial, self storage, and hospitality assets. Greystone’s internal sizing, underwriting, and B-piece buying on CMBS deals eliminates stress points for borrowers throughout the process.
“Re-engineering the CMBS lending model through the lens of the borrower’s experience has enabled us to create an offering that is unlike others in the market,” said Stephen Rosenberg, CEO, Greystone. “It’s critical that a borrower have confidence they will get the same terms at the closing table as when they first received them, and we have full control over that process.”
“The CMBS market is poised for a new model that will be a breath of fresh air for commercial property investors in the ease of execution while, at the same time, delivering CMBS investors loans of strong credit quality,” said Mr. Highfield. “Combined with its other industry-leading debt platforms, Greystone’s capital solutions offerings are second to none in CRE, and I’m thrilled to be leading the charge for expansion in the conduit sector with a strong nationwide team.”
Earlier in December, Cushman & Wakefield invested $500 million in Greystone’s Agency, FHA, and Servicing businesses, enabling Greystone to grow its overall capital solutions platforms, including the build-out of its proprietary CMBS offering.
“I am confident that Rich’s deep expertise will provide an incredible foundation for our growth in lending on an expanded set of commercial asset classes, and as we continue to pioneer a new approach to CMBS,” Mr. Rosenberg added.