Greystone Expands National Multifamily Sales Advisory Platform in New JV with Michigan-Based Commercial Property Advisors
July 19, 2017
New Joint Venture Leverages Greystone’s Full-Service Debt Capabilities and Commercial Property Advisors’ Extensive Advisory Expertise
Greystone announced that it has welcomed Commercial Property Advisors of West Bloomfield, Michigan, to the Greystone network. The new joint venture, Greystone Bel Real Estate Advisors, focuses on providing a full range of multifamily advisory services to clients in Michigan for both market-rate and affordable housing properties, capitalizing on Greystone’s comprehensive financial platform and Commercial Property Advisors’ multifamily sales expertise in that region.
As Commercial Property Advisors, the group established itself as a nationally connected, local leader in providing commercial real estate services, having handled over 275 transactions with an aggregate value of more than $650 million. Cary Belovicz, CEO and founder of Commercial Property Advisors, will lead the regional Greystone Bel Real Estate Advisors team as an Executive Managing Director.
Prior to founding Commercial Property Advisors, Mr. Belovicz was an Associate at Hendricks & Partners (now Berkadia). He also marketed and sold assets for Key Bank, Hartford, AIMCO, CapMark, Centerline (now Hunt), and private equity groups located all over the world. Cary and his team bring experience in finance, development and management of multifamily assets to Greystone, creating a truly broad set of capabilities to complement the firm’s established debt and equity platforms, including long-term Agency financing and mezzanine loans.
“Coming on board with a nationally-renowned platform such as Greystone’s is the opportunity our group has been looking for,” said Mr. Belovicz. “Greystone offers something truly unique for us and our clients – a miles-deep bench of multifamily lending, investment and advisory expertise and resources, and the open culture to support the active growth of an investment sales component.”
“Cary and his team are a natural fit for Greystone’s entrepreneurial environment, and we are thrilled to welcome such a dynamic and enthusiastic team to our growing national multifamily investment sales platform,” said Jim McDevitt, President, Greystone Real Estate Advisors. “With their breadth and depth of experience beyond just sales advisory work, we know that the value of this addition will stretch beyond transactions, and truly lie in the holistic advisory relationship built with clients.”