Greystone, a commercial real estate finance company, and Passco Companies, a sponsor of Delaware statutory trust offerings, have formed a strategic alliance to provide their respective clients with Delaware statutory trust investment opportunities, as well as other real estate investment opportunities in the future.
With its minority investment in Passco, Greystone is entering the DST market and their alliance will provide “a broader range of acquisition opportunities including post-construction and pre-stabilized properties,” the companies said in a joint statement.
“This union delivers something the industry has yet to see – a strategic vehicle with exponential growth opportunities that is focused on putting people first,” says Bill Passo, chief executive officer and founder of Passco. “Our investors, partners, employees and their families are central to our focus. This is the bottom line in everything we do at Passco, and we have found complete alignment in that value with the Greystone team.”
Passco reported a record $1.7 billion in transaction volume in 2021, and said that it aims to “exponentially surpass this growth” in 2022 by leveraging Greystone’s network, access to brokers, and balance sheet.
Greystone originated $18.3 billion in commercial real estate financing across 1,100+ executions in 2021, and was reportedly ranked as the top HUD commercial lender and a top 10 Fannie Mae and Freddie Mac lender. The HUD rankings are based on the combined originations of Greystone Servicing Company LLC and Greystone Funding Company LLC.
“Passco’s investment platform has already proven itself a well-oiled engine,” said Stephen Rosenberg, founder and CEO of Greystone. “Together, we are now an unstoppable force that is positioned to grow ten-fold by opening doors of opportunity for investors, guided by the level of care they need and deserve as they consider the DST sector.”
Passco currently oversees $3.7 billion in assets under management, including 54 properties in 16 states. The company said that with Greystone’s backing, it aims to further expand its real estate portfolio in primary and secondary markets throughout the nation.
Headquartered in Irvine, California, Passco Companies is a full-service real estate company that acquires, develops, and manages multifamily and commercial properties throughout the U.S. The firm currently has $3.7 billion assets under management and is reportedly growing its portfolio in primary and secondary markets throughout the United States.