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NEW YORK, Oct. 16, 2017 -- Greystone, a real estate lending, investment and advisory company, today announced it has launched a CMBS mezzanine loan platform to complement its existing CMBS platform. The new mezzanine loan product is intended to accompany a newly-originated CMBS first mortgage loan from Greystone.
Terms for Greystone CMBS mezzanine loans include:
- Loan size of $500,000 to $5 million
- 5- and 10-year terms; same as first mortgage
- 75-85% LTV
- Interest-only, or consistent with senior mortgage loan
- 12-15% coupon varying with LTV, DSCR, market and sponsor
- Non-recourse
“This mezzanine loan product meets a need for capital that is overlooked by traditional providers of mezzanine financing due to the smaller size – yet it’s still a critical component of the capital stack,” said Rob Russell, Head of CMBS Production at Greystone. “Combining the flexibility of CMBS with Greystone’s capabilities to execute mezzanine financing for our clients make this a game-changing loan product.”
About Greystone
Greystone is a real estate lending, investment and advisory company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA and Fannie Mae lender in these sectors. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.
PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
[email protected]
