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Cushman & Wakefield, Greystone Enter Strategic JV
Cushman & Wakefield and Greystone said Wednesday they would enter into a strategic joint venture to deliver advisory services and capital solutions to existing, joint and new clients of both firms nationwide. The JV agreement calls for Cushman & Wakefield to make a strategic investment of $500 million to acquire a 40% stake in Greystone’s agency, FHA and servicing businesses.
Greystone intends to use the capital to create innovative product offerings aimed at positioning the company for future expansion. The transaction is anticipated to close in the fourth quarter.
“Greystone’s mission has always been to provide an unparalleled client experience, and this deal truly manifests what we hope to achieve in solving for any need of a commercial property investor,” said Stephen Rosenberg, founder and CEO, Greystone.
The investment expands Cushman & Wakefield’s presence in the multifamily sector. In early 2020, the company acquired Pinnacle Property Management Services, the nation’s third-largest multifamily property management firm.
Rosenberg added, “While we are initially focused on the multifamily market, we see sizable growth opportunities ahead in serving clients with capital and services in other commercial asset classes, and I couldn’t be more excited about the potential, and what the future brings.”
- ◦Sale/Acquisition
- ◦Financing
