January 13, 2020
Greystone has expanded into special servicing, acquiring C-III Asset Management LLC (C3AM) and its $20.7-billion servicing portfolio. Terms of the acquisition weren’t disclosed. C3AM was previously a wholly owned subsidiary of New York-based C-III Capital Partners LLC.
The new special servicing group at Greystone will be led by Paul Smyth, who joined Greystone earlier this year. Previously he served as president of C3AM before taking the global chief credit officer, CRE position at Credit Suisse in New York for several years.
“Adding special servicing to our already vast commercial real estate finance expertise is very exciting,” said Stephen Rosenberg, CEO and founder of Greystone. “The C3AM team brings some of the brightest minds and greatest talents in this industry to Greystone, and, under the leadership of Paul, we look forward to working with new clients, lenders, and other participants in the special servicing market.”
Pictured: Greystone headquarters at 152 W. 57th St. in Midtown Manhattan.
For comments, questions or concerns, please contact Paul Bubny