Greystone closes $901.3 million multifamily commercial real estate collateralized loan obligation

Manhattan, NY Greystone, a leading national commercial real estate finance company closed Greystone CRE Notes 2025-FL4, LLC, a $901.3 million commercial real estate collateralized loan obligation (CRE CLO) backed by bridge loans on multifamily properties.

Greystone CRE Notes 2025-FL4, LLC marks the firm’s seventh overall CRE CLO and its largest CLO to date.

The collateral pool for Greystone CRE Notes 2025-FL4 comprises 13 whole loans and 15 loan participations, totaling $901.3 million, secured by 28 multifamily properties in 16 states. Made up of solely multifamily assets, the largest concentrations of the collateral pool are located in Georgia (13.5%), New Jersey (11.6%), Texas (10.5%), North Carolina (10.1%), Idaho (6.4%), Maryland (6.4%), and Pennsylvania (6.4%). This actively managed CRE CLO has a three-year reinvestment period.

“Amid market fluctuations over the last several months, Greystone has stayed the course in our commitment to providing financing for quality assets, which is evident by the strong interest from bond investors,” said Ross Gusler, head of corporate finance and capital markets at Greystone. “Greystone continues to invest in its growing bridge lending platform across both the multifamily and healthcare sectors, and we are thrilled with the recent addition of Richard Dugoff as head of bridge lending to lead this path.”

To date, Greystone’s Bridge-to-Agency (including Fannie Mae, Freddie Mac, and HUD) lending platform has provided $15 billion in short-term bridge loans across the multifamily and healthcare sectors. As the #1 provider of HUD loans for commercial properties* and a top 10 Fannie Mae and Freddie Mac multifamily lender, Greystone’s active participation in the broader commercial mortgage market extends beyond providing debt to include sales advisory services, CRE asset management, and ownership/operational activities.

Wells Fargo Securities LLC, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, ATLAS SP Securities, Natixis Securities Americas LLC, and UBS Securities LLC served as lead managers of Greystone CRE Notes 2025-FL4. Capital One Securities served as a co-manager.

This press release is for informational purposes only. It shall not constitute an offer to sell or a solicitation of an offer to buy any securities.

*HUD rankings are as of September 30, 2024, and are based upon combined originations of Greystone Servicing Company LLC and Greystone Funding Company LLC.