Greystone has held a $750 million close for its Greystone Senior Debt Opportunity Fund.
The fund is managed by Greystone’s affiliate investment adviser and includes several institutional and large public pension fund investors. The eight-year fund invests in debt financing across a range of commercial real estate properties.
With leverage, the fund anticipates an investment capacity in excess of $2.5 billion for loan products such as bridge and mezzanine financing for multifamily, healthcare and other commercial properties.
Greystone recently expanded its bridge and mezzanine program, which includes senior mortgage bridge financing; a one- to three-year, short-term mezzanine and subordinated debt loan product for multifamily and healthcare properties that are moving toward a permanent, agency finance exit; and a five- to 10-year CMBS-mezzanine loan product. Greystone targets first mortgages from $5 million and up, as well as subordinate financing from $1 million.
“We are seeing incredible demand for flexible financing options for acquisitions of both stabilized and transitional properties, and this increased capacity enables us to help round out the increasingly complex capital stack for property investors,” says Mark Jarrell, head of Greystone’s portfolio lending group.
The Greystone Senior Debt Opportunity Fund is managed by Greystone Bridge Lending Fund Manager, an SEC-registered investment adviser.