Greystone Closes $901M CRE CLO Backed by Multifamily Loans

Greystone has closed on Greystone CRE Notes 2025-FL4, LLC, a $901.3-million Commercial Real Estate Collateralized Loan Obligation (CRE CLO) backed by bridge loans on multifamily properties. It’s the company’s seventh CRE CLO overall and its largest to date.

The collateral pool for Greystone CRE Notes 2025-FL4 comprises 13 whole loans and 15 loan participations, secured by 28 multifamily properties in 16 states. The largest concentrations of the collateral pool are located in Georgia (13.5%), New Jersey (11.6%), Texas (10.5%), North Carolina (10.1%), Idaho (6.4%), Maryland (6.4%) and Pennsylvania (6.4%). The actively managed CRE CLO has a three-year reinvestment period.

“Amid market fluctuations over the last several months, Greystone has stayed the course in our commitment to providing financing for quality assets, which is evident by the strong interest from bond investors,” said Ross Gusler, head of corporate finance and capital markets at Greystone.

Wells Fargo Securities, Goldman Sachs, J.P. Morgan Securities, ATLAS SP Securities, Natixis Securities Americas and UBS Securities served as lead managers on the CRE CLO. Capital One Securities served as a co-manager.