{"id":1004049831,"date":"2012-11-13T07:31:21","date_gmt":"2012-11-13T15:31:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004049831"},"modified":"2022-12-09T01:47:37","modified_gmt":"2022-12-09T09:47:37","slug":"greystone-bassuk-form-jv-to-focus-on-creative-m-f-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/greystone-bassuk-form-jv-to-focus-on-creative-m-f-financing\/","title":{"rendered":"Greystone, Bassuk Form JV to Focus on ‘Creative’ M-F Financing"},"content":{"rendered":"

By Scott Baltic, Contributing Editor<\/em><\/p>\n

\"\"<\/a>

From left: Richard Bassuk, Stephen Rosenberg,\u00a0and Mordecai Rosenberg, both of Greystone<\/p><\/div>\n

Greystone and The Bassuk Organization, both of New York, have formed the appropriately named Greystone Bassuk Group, a joint venture intended to provide expanded real estate and financial services, including \u201ccreative debt and equity financing,\u201d to CRE clients with multi-family assets across the United States, the two companies announced yesterday. The JV will be based at Greystone\u2019s headquarters.<\/p>\n

As a leading national provider of commercial mortgage loans, Greystone offers a variety of multi-family and healthcare financing solutions, including Fannie Mae, Freddie Mac, bridge and FHA loan products. It currently manages more than $15 billion in assets.<\/p>\n

The Bassuk Organization has provided real estate investment banking services to owners and developers in the tri-state New York City area for more than 15 years. Chairman and CEO Richard Bassuk has arranged financing totaling more than $4 billion for development and redevelopment projects throughout New York. He was previously president of Starrett Housing Corp., one of New York\u2019s largest diversified public real estate companies, where he was responsible for the development of more than 20,000 units of residential housing and numerous projects involving government subsidies, including 80\/20 projects.<\/p>\n

Both Bassuk and Greystone founder and CEO Stephen Rosenberg outlined for Commercial Property Executive<\/em> what each organization brings to the JV.<\/p>\n

\u201cMy business is extremely strong,\u201d said Bassuk, \u201cand this venture enables me to further expand and institutionalize this business by providing my services to Greystone clients. This particularly applies to 80\/20 and large-scale conventionally financed deals. Working with Greystone offers the national reach, expanded platform, financial strength and creative programs to build on the success of The Bassuk Organization. Greystone\u2019s 500-plus financial services employees will broaden the joint venture\u2019s ability to provide a multi-faceted approach to commercial real estate financing nationwide.\u201d<\/p>\n

\u201cThe Bassuk Group provides access to the hard-to-penetrate New York metropolitan market,\u201d Rosenberg said, \u201cand has decades of experience providing financing and consulting services to some of New York City\u2019s largest developers and owners. The new venture will utilize the Bassuk Group\u2019s vast expertise in 80\/20 and large-scale financing deals in New York and expand this activity geographically in major markets throughout the U.S.\u201d<\/p>\n

Both parties emphasized the creative\/innovative solutions the JV intends to offer. Bassuk explained the context this way: \u201cAfter several years where financing activity has been relatively slow, activity is now accelerating, and multi-family is the investment of choice for lenders and investors because of the favorable risk profile. This is particularly true of structured 80\/20 financing.\u201d<\/p>\n

\u201cSince we already know the borrowers, the lenders and the programs, especially 80\/20,\u201d he added, \u201cthe Greystone Bassuk Group has a big advantage in having these established relationships with many of New York\u2019s leading owners and developers. In addition, Greystone\u2019s major Fannie Mae and Freddie Mac experience will allow us to integrate construction and permanent financing at one time, which some borrowers will find extremely advantageous.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Greystone and The Bassuk Organization, both of New York, have formed a joint venture intended to provide expanded real estate and financial services, including \u201ccreative debt and equity financing,\u201d to CRE clients with multi-family assets across the United States.<\/p>\n","protected":false},"author":952,"featured_media":1004049833,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21783,11,21742],"tags":[],"class_list":["post-1004049831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-investment","category-midatlantic","category-latest"],"acf":[],"yoast_head":"\nGreystone, Bassuk Form JV to Focus on 'Creative' M-F Financing - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/greystone-bassuk-form-jv-to-focus-on-creative-m-f-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Greystone, Bassuk Form JV to Focus on 'Creative' M-F Financing\" \/>\n<meta property=\"og:description\" content=\"Greystone and The Bassuk Organization, both of New York, have formed a joint venture intended to provide expanded real estate and financial services, including \u201ccreative debt and equity financing,\u201d to CRE clients with multi-family assets across the United States.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/greystone-bassuk-form-jv-to-focus-on-creative-m-f-financing\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-11-13T15:31:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T09:47:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/11\/Greystone-Bassuk-Executive-Team.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1944\" \/>\n\t<meta property=\"og:image:height\" content=\"1409\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/greystone-bassuk-form-jv-to-focus-on-creative-m-f-financing\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/greystone-bassuk-form-jv-to-focus-on-creative-m-f-financing\/\",\"name\":\"Greystone, Bassuk Form JV to Focus on 'Creative' M-F Financing - 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