Paul Smyth, who previously served as President of C3AM, will be the head for the new special servicing group at Greystone
Real estate lending and investment provider Greystone has acquired the Dallas-based C-III Asset Management (C3AM) and its $20.7bn servicing portfolio, to expand its capabilities into special servicing.
C3AM was a wholly-owned subsidiary of New York-based C-III Capital Partners.
Paul Smyth, who previously served as C3AM president, will be the head for the new special servicing group at Greystone.
Smyth said: “I’m thrilled to be reunited with the team that leads the special servicing market and to collaborate together under Greystone’s industry-leading umbrella, which includes originating loans in excess of nearly $14 billion annually across a variety of platforms.
“Now, the addition of a special servicing group will complement Greystone’s new B-Piece initiative and will also give Greystone the ability to provide our clients with an added customer-focused asset management service.”
Greystone has major presence in multifamily and healthcare finance
Greystone is a real estate lending, investment, and advisory company with a major in multifamily and healthcare finance. It was ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors.
The company is actively engaged in commercial lending and servicing, and is currently managing approximately $42bn loan portfolio in multifamily and healthcare mortgages.
In addition, it offers commercial lending services through various platforms including Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. The company offers loans through its Greystone Servicing, Greystone Funding and other Greystone affiliates.
The company has recently offered an $8m HUD-insured loan to refinance a 90-bed skilled nursing facility in Plainfield, Connecticut, US.
Greystone CEO and founder Stephen Rosenberg said: “Adding special servicing to our already vast commercial real estate finance expertise is very exciting.
“The C3AM team brings some of the brightest minds and greatest talents in this industry to Greystone, and, under the leadership of Paul, we look forward to working with new clients, lenders, and other participants in the special servicing market.”