NEW YORK CITY – Commercial real estate lending and investment advisory firms Greystone and Philadelphia-based Rittenhouse Realty Advisors have announced they are combining their capabilities to form a joint venture to bulk-up their offerings to focus on the Mid-Atlantic and Northeast regions.
Managing Partners Ken Wellar and Corey Lonberger of the Rittenhouse Realty Advisors team combined share three decades of experience in providing commercial real estate advisory services to private capital and institutional investors in the Northeast. The newly formed Greystone Rittenhouse Realty Advisors team will include a total of seven sales and debt advisors.
"Joining forces with Greystone will provide our team with a full toolbox of financing options for clients, from debt to equity, and we can boost local market expertise for Greystone's existing platform in the Mid-Atlantic and Northeast," said Wellar in a prepared statement.
Over more than 15 years, Wellar has advised on the sale of over 23,000 multifamily units totaling more than $2 billion. Lonberger has more than 17 years of expertise in the multifamily sector and has advised on the sale of over 34,000 units totaling $2.8 billion in value. The team, which is actively involved in industry organizations such as NMHC and ULI, has experience across a range of asset types, including urban mixed-use properties, development sites, large-scale apartment communities, and privately-owned campus-adjacent student housing properties.
"For multifamily owners, Greystone has a thoughtful and strategic solution for every portfolio, whether it is for disposition, refinancing, or acquisitions and bridge financing to permanent debt, and we are thrilled to bring our capabilities to new clients in the Mid-Atlantic and Northeast regions," said Jim McDevitt, president of Greystone Real Estate Advisors, in a prepared statement.
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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.
