Cushman & Wakefield a global real estate services firm, and Greystone, a national commercial real estate finance company, will enter into a strategic joint venture to deliver best-in-class advisory services and capital solutions to existing, joint and new clients of both firms nationwide.
Under the terms of the agreement, Cushman & Wakefield will make a strategic investment of $500 million to acquire a 40 percent stake in Greystone’s Agency, FHA and Servicing businesses. Greystone intends to use the capital to create innovative product offerings which will position the company for future expansion. The transaction is anticipated to close in the fourth quarter of 2021, subject to customary closing conditions.
Greystone is a top multifamily lender, including bridge, Fannie Mae DUS®, Freddie Mac Optigo®, and HUD, giving Cushman & Wakefield’s client base more direct access to a broad range of debt products for property acquisition, refinancing or substantial rehab / new construction. In turn, Cushman & Wakefield brings a well-established network of advisory professionals in core markets across the U.S., enabling both firms, together, to offer commercial property investors a holistic, one-stop approach.
This investment expands Cushman & Wakefield’s presence in the multifamily sector. In early 2020, the firm acquired Pinnacle Property Management Services, LLC, the third-largest multifamily property management firm in the U.S. These investments enable Cushman & Wakefield to provide a complete set of services and expertise throughout every stage of investment in multifamily assets.