Company seeks to expand the platform and "re-engineer" the CMBS lending model
Greystone has brought in Rich Highfield to head its CMBS lending platform and expansion into a fully proprietary conduit offering for multifamily and commercial assets.
Based in Charlotte, NC, Highfield will lead the expansion, which Greystone claims will be a “more seamless, direct source of long term, fixed-rate debt for property investors.” The commercial real estate firm added that the upgrade aims to eliminate stress points for borrowers throughout the process of sizing, underwriting, and buying CMBS deals.
“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 Greystone CEO Stephen Rosenberg. “It’s critical that a borrower has confidence they will get the same terms at the closing table as to when they first received them, and we have full control over that process.”
Earlier this month, Cushman & Wakefield invested $500 million in Greystone’s agency, FHA, and servicing businesses, boosting its overall capital solutions platform, including the build-out of its proprietary CMBS offering.
Read more: Commercial real estate leader goes all in on multifamily
“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,” Highfield, who will report to executive vice president Kevin Williams, added. “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.”
Highfield, a 25-year veteran in the real estate industry, made the switch to Greystone from Starwood Mortgage Capital, where he most recently served as president. He has also held a variety of roles as a director at Blackrock Solutions and as a principal at Banc of America Securities.
“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,” Rosenberg said.
