Greystone Establishes Phoenix Office for Multifamily Lending
April 17, 2017
Greystone announced it has established a presence in Phoenix, AZ for multifamily and commercial real estate lending. Eric Jones, Director, heads up this location with a focus on Fannie Mae, Freddie Mac, FHA, and CMBS real estate finance, serving multifamily owners nationwide from the new outpost.
Having joined Greystone in 2016, Mr. Jones most recently served as a Vice President at Aries Capital LLC, where he was based in Phoenix, AZ for nine of his 14 years at the firm. While there, he established the company’s Agency small loans platform and originated or contributed to over $440 million in permanent and bridge multifamily financing. Mr. Jones is a graduate of Arizona State University.
Recent examples of transactions Mr. Jones has closed include:
- $1.4 million Freddie Mac Small Balance Loan to refinance a mixed-use property under construction on Haley Street in Santa Barbara, CA. The owner converted a vacant property into a 5-unit residential building with two commercial spaces. A 10-year loan with 2-years of interest-only and 30-year amortization, this transaction marked the fourth loan closed by Mr. Jones for this property owner.
- $2.1 million Freddie Mac Small Balance Loan to refinance a converted 14,000-square foot commercial space into a two-story, 13-unit apartment building on N. Clark Street in Chicago, IL. The 10-year financing included 3-years of interest-only with a 30-year amortization.
“I’m thrilled to help expand Greystone’s presence in the Southwest, and to help multifamily owners nationwide learn more about Greystone’s position as a leader in Fannie Mae, Freddie Mac and FHA multifamily lending,” said Mr. Jones. “With the ultimate aim of helping our clients achieve their business goals, Greystone serves as a true partner in a growing range of solutions, including acquisitions, refinancing and a complete suite of real estate advisory services.”