NEW YORK, NY - Greystone, a leading national commercial real estate finance firm, announced it ranks #1 based on dollar volume of multifamily and healthcare Firm Commitments issued by the U.S. Department of Housing and Urban Development (HUD) for the first half of the agency’s 2022 fiscal year, beginning October 1, 2021 through March 31, 2022. During this period, Greystone originated and obtained Firm Commitments for 89 HUD-insured loans totaling $1.7 billion, representing an increased 13.2% overall market share – the largest of all commercial lenders – for HUD-insured multifamily and healthcare loans.
Greystone also ranked highest based on dollar volume for Firm Commitments issued under HUD’s MAP program with $1.4 billion in origination volume for 66 multifamily properties, as well as HUD’s LEAN program, totaling $345 million in origination volume for 23 healthcare properties, which include skilled nursing and assisted living facilities.
“While recovery from the pandemic slowly continues for healthcare and multifamily owners, we are now navigating a rising rate environment, adding further complexity to the financing landscape,” said Nikhil Kanodia, head of Greystone’s FHA lending group. “That said, a HUD-insured loan is still the lowest-rate, longest-term financing solution that comes with a number of advantages for property investors. As the #1 provider of this financing for many years running, Greystone is equipped to help owners achieve this end result for long-term success, whether direct to HUD or via our seamless bridge lending solution.”