Greystar Closes $600M Debt Fund
Fund will focus on the acquisition of securitized subordinated debt.
Greystar Real Estate Partners announced the close of its $600 million commercial real estate debt fund of Greystar Credit Partners III.
The fund is the continuation of an effort initiated in 2018 “to scale into credit strategies that leverage the firm’s expertise to make data-driven and timely principal investment decisions, according to Brett Lashley, managing director and leader of credit at Greystar.
The fund will focus on the acquisition of securitized subordinated debt as well as private label securitizations, junior notes, and mezzanine debt collateralized by the continuum of for-rent residential assets, according to a release.
“Greystar’s credit business has raised over $2 billion of unlevered capital and continues to expand the focus of the business with additional CRE debt-oriented strategies,” Lashley said in a release. “We look forward to deploying this capital in an environment with potentially improving risk/return metrics.”
Greystar Also Providing Financing
In October, Greystar announced it has the capability to provide financing to owners and developers of residential rental properties throughout the US by way of senior mortgages, mezzanine loans, and preferred equity.
Greystar said then that it will focus its direct financing services on multifamily properties in urban and suburban markets throughout the US.
Greystar established its credit business in 2018 and has invested nearly $1.5B across the continuum of debt instruments collateralized by multifamily assets, Wes Fuller, executive managing director and global leader for Greystar’s Investment Management business said in a release.