“After the recession, many banks reduced their CRE lending exposure as they faced increased regulation and scrutiny, which in turn served as a launchpad for non-bank lenders like Allegiant to step in and fill the gap,” Reiff said in March. “Now, with the additional capital, support and expertise from Tony, Ziel and Nir, we will further expand our LP investor base, continue to grow our AUM and broaden our product offering for our customers.”

NEW YORK CITY—Allegiant Real Estate Capital, the investment management company launched this past fall by Randy Reiff, said Tuesday it would partner with Greystone & Co. on a suite of commercial real estate debt products. The initial focus will be on the multifamily and skilled nursing sectors, although the partnership's ultimate reach will extend across asset classes.

It's also intended to span the compass of the capital structure, from mortgage and mezzanine debt to private equity. Allegiant will have access to Greystone's multifamily and skilled nursing product offerings via the partnership, along with tapping into its capital for co-investment opportunities. For its part, Greystone will be able to capitalize on Allegiant's sourcing, underwriting, asset management and capital markets capabilities to enhance its own product offerings and capabilities.

From Allegiant's standpoint, “This partnership brings together our broad commercial real estate lending, trading and capital markets capabilities and expertise with Greystone's deep real estate expertise, extensive product offerings and significant capital resources,” says Reiff, the firm's CEO and CIO as well as its founder. His counterpart at Greystone, CEO and founder Stephen Rosenberg, says the new partnership “brings together some of the best talent, products, creativity and unique capital that exist in the marketplace.”

The partnership between Allegiant and Greystone is the second such alliance that Allegiant has formed in as many months. In March, the firm received a strategic investment from Anthony Tufariello, formerly co-CIO of real estate at Fortress Investment Group, and Ziel Feldman and Nir Meir, both of whom are among the most active developers in New York City.

“After the recession, many banks reduced their CRE lending exposure as they faced increased regulation and scrutiny, which in turn served as a launchpad for non-bank lenders like Allegiant to step in and fill the gap,” Reiff said in March. “Now, with the additional capital, support and expertise from Tony, Ziel and Nir, we will further expand our LP investor base, continue to grow our AUM and broaden our product offering for our customers.”