New York City.
NEW YORK CITY – Greystone, a commercial real estate lending, investment, and advisory firm, has bulked up its special servicing capabilities, acquiring Dallas-based C-III Asset Management, a special servicer with a $20.7 billion servicing portfolio. C3AM was previously a wholly-owned subsidiary of New York-based C-III Capital Partners.
"Adding special servicing to our already vast commercial real estate finance expertise is very exciting," said Stephen Rosenberg, CEO and founder of Greystone, in a prepared statement. "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."
Paul Smyth, who joined Greystone earlier this year, will lead the new special servicing group at Greystone. He previously served as president of C3AM in a prior role before taking the global chief credit officer, CRE position at Credit Suisse in New York for several years. Smyth brings three decades of industry expertise to the position and is tasked to grow special servicing as part of Greystone's existing commercial real estate finance offerings.
"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," Smyth said in a prepared statement. "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."
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
