GREYSTONE & CO. INC.
Stephen Rosenberg is changing the way the industry approaches affordable housing. The
CEO founded Greystone in 1988 as an independent investment banking firm and has since
developed it into a mature CRE investment firm with a national reputation in the multifam-
ily space, particularly on affordable housing, seniors housing and healthcare. In his own
words: “Greystone’s essence is rooted in a singular human quality that has been champi-
oned since the company’s inception: humility.”
Based in New York City, Greystone is a national leader in FHA commercial mortgage lend-
ing with 8,000 employees, 34 offices and ownership or management of nearly $30 billion in
assets. The company has developed more than $2 billion in properties nationwide, owns/
manages more than 7,600 multifamily units and manages nearly 3,800 beds across 30 health-
care facilities. It is one of the largest providers of funding and financing to nursing homes and
skilled-nursing facilities. Its total loan origination volume in 2017 was more than $9.5 billion.
The company is the largest buyer of troubled/defaulted FHA-insured multifamily loans in the
US, having restructured more than $3.2 billion of loans.
Rosenberg has built Greystone to be a place “where people matter,” and seeks creative solutions and innovates in a way that enriches both personal and professional scenarios. Under his direction, the company has
a firm commitment to philanthropy, responsible lending and high-quality housing developments. The company is the first
truly institutional sponsor of the EB- 5 visa program, and Greystone Affordable Development works with state and federal
affordable housing agencies to finance, recapitalize and preserve affordable housing properties, particularly in rural areas.
Rosenberg believes that everyone in the US should have access to safe, clean and comfortable affordable housing. To that
cause, he founded Harmony Housing, a national 501(c) 3 organization that both reinvests its proceeds into its property
portfolio and distributes the profits to the broader community through charitable giving. This both preserves affordable
housing and helps people reach their full potential. Completely separate from Greystone and the day-to-day operations of
the commercial real estate company, Harmony Housing is now providing and maintaining affordable homes for residents,
many of whom are elderly or disabled, in more than 50 properties totaling 8,000 units in US cities such as Austin, TX;
Raleigh, NC; Orlando and Milwaukee.
Every year since its founding, Greystone has donated half of the company’s revenues to various causes. In 2017, Greystone
donated more than $5 million to various causes. Rosenberg also runs the Murray & Sydel Rosenberg Foundation.
GREYSTAR REAL ESTATE PARTNERS
In 1993, two years after founding Starwood Capital Partners with Barry Sternlicht, Bob
Faith founded Greystar Real Estate Partners. His intention was to create a fully integrated
institutional-quality services firm for the rental housing business. Recognizing that real
estate is ultimately cyclical, his vision was to create an evergreen business model that combines investment management and development with a property management services
platform to provide a stable presence throughout the business cycle. His vision and business savvy have allowed him to construct a recession-resistant business by diversifying
Greystar into a management, development and investment juggernaut.
Faith, who serves as chairman and CEO of the Charleston, SC-based firm, is a trailblazer who
has helped the rental housing industry evolve in highly progressive ways, raised the bar for the
rental housing sector and compelled industry peers to sharpen their collective focus. During
the past 25 years, the business model Faith created has led Greystar to become one of the
industry’s largest operators of apartments—and more lately, student housing, with its recent
$4.6-billion purchase of Education Realty Trust.
GreyStar has more than 435,000 units under management in 150-plus markets globally, totaling more than $80 billion of real estate. Its platform is dedicated to managing capital on behalf of a global network of institutional
investors, with more than $26 billion in gross assets under management, including $9.7 billion of developments under way.
Since entering the UK in 2013, Greystar has built a property portfolio worth £ 4. 5 billion, representing 32,000-plus units,
and comprising both student housing and multifamily rental accommodations. The company is an investor and operator of
student brand Chapter and a shareholder in student accommodation provider iQ. More recently, the company has
expanded its presence internationally, with operations in the Netherlands, Spain and Latin America, including Mexico City
and Chile. What’s more, Greystar has major institutional investors from every corner of the globe and launched a new Asia-Pacific rental housing platform with Macquarie Capital in October 2016.
In August 2018, Greystar, together with Credicorp Capital, announced the final close on Fondo de Inversión Credicorp
Capital Renta Residencial II, its second discretionary commingled multifamily development fund in Chile with aggregate
equity commitments of more than $100 million. This is the largest-ever fundraise in the history of Chile’s multifamily market. Including leverage, the fund has $350 million in total capital available to invest, which will finance the development of
five to seven multifamily properties with an aggregate of approximately 1,500 units in the eastern region of Santiago.