Greystone, a provider of multifamily and commercial mortgage loans, announced the formation of the Greystone Bassuk Group, a joint venture with The Bassuk Organization.
The Bassuk Organization has been a leader in providing real estate investment banking services to owners and developers in the New York Tri-State area for over 15 years.
The new group will provide expanded real estate and financial services, including creative debt and equity financing, to commercial real estate clients with multifamily assets across the United States.
Greystone manages more than $15 billion in assets and ranks among the top Fannie Mae DUS and FHA lenders.
Recognized as one of New York’s pre-eminent real estate investment bankers and mortgage brokers, Richard Bassuk is chairman and CEO of The Bassuk Organization, Inc. who also co-founded The Singer and Bassuk Organization (SBO) in 1996.
Stephen Rosenberg, founder and CEO of Greystone, said, “By combining Greystone’s and The Bassuk Organization’s strengths, we plan to make cutting edge products available to our many clients, offering them an in depth range of services including providing bridge and permanent loans and other financial resources to facilitate acquisition financing, refinancing and restructuring.
“We believe that Greystone’s 500+ financial services employees will broaden the joint venture’s ability to provide a multi-faceted approach to commercial real estate financing nationwide.”
Said Bassuk, “The Greystone Bassuk Group will combine the national reach, expanded platform, financial strength and creative programs of Greystone with The Bassuk Organization’s presence in the New York marketplace and its decades of experience providing financing and consulting services, including 80/20 transactions and arranging development and permanent financing for large scale rental and condominium projects for some of New York’s most sophisticated developers and owners.”
Bassuk has long served the New York development community, having arranged financing of over $4 billion for new developments and redevelopment projects throughout New York, in up and coming areas and established neighborhoods.
The joint venture is currently developing programs that take advantage of historically low interest rates. The venture will share office space within Greystone’s New York headquarters.