After launching an affordable housing sales advisory platform at the end of last year, Greystone is doubling down on its efforts.
Industry veterans David Garcia, Jeff Dean, and Zach Chenault have joined Greystone’s Real Estate Advisors Group. They recently served as the senior team at Cambridge Housing Partners, a Denver-based affordable housing firm.
The addition of the team enables Greystone to amplify its industry relationships and acquisition expertise in complex programs such as 4% low-income housing tax credits (LIHTCs) and tax-exempt bonds, 9% LIHTCs, and project-based Sec. 8 subsidies. The group has acquired and developed more than 100 properties, totaling more than 13,000 units with a value in excess of $1 billion.
After 15 years of acquiring and redeveloping affordable housing as principals, the team brings a unique perspective to Greystone's Real Estate Advisors group, which provides sales, acquisition, and advisory services to multifamily owners and investors.
“We’re going to be reviewing these transactions much like we would have been as a buyer,” Garcia says. “We’ll be trying to find the optimal execution if it is sale, a refinance, or resyndication of a transaction.”
The new members join managing directors Aaron Hargrove and Eric Taylor, who were brought on last year to establish an investment sales presence in the affordable housing sector for Greystone. Hargrove and Taylor were previously with Berkadia.
“We now have many more tools in the toolbox from an advisory capacity,” Taylor says. “We literally can cover every facet of a transaction from debt to sales to credit consulting.”