C&W, Greystone Partnership Adds Multifamily Veteran to Lead Eastern Originations
By Andrew Coen January 30, 2023 3:36 pm
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Cushman & Wakefield (CWK) (C&W) and Greystone have made a second hire to the firms’ joint equity, debt and structured financing (EDSF) team with the addition of Alex Basile, Commercial Observer has learned.
Basile joined from Newmark (NMRK) this week as executive director for the newly formed partnership’s multifamily debt and equity transactions. He is based in Washington, D.C.
“His financing expertise within the multifamily sector makes him a true asset to our team,” John O’Neill, president of U.S. multifamily capital markets at C&W, said of Basile in a statement.
Commercial Mortgage Alert first reported Basile’s hiring early Monday. The move comes four months after C&W and Greystone tapped Craig Branton from CBRE to head its joint EDSF team in Denver, CO first reported in September. The D.C. team led by Basile will service the JV’s Eastern business while Banton’s Denver is spearheading Western originations.
“Alex’s impressive tenure and in-depth knowledge of the multifamily asset class will add to our growing joint effort with Cushman & Wakefield as we strive, together, to become the No. 1 multifamily services provider in the United States,” Richard Martinez, head of agency lending production at Greystone, said in a statement.
Basile brings over 15 years of real estate experience to C&W, primarily focusing on multifamily assets. He has placed more than $5 billion of senior mortgage and mezzanine loans across all asset classes in his career.
He spent two and a half years at Newmark, negotiating debt and equity transactions within the multifamily sector. Prior to Newmark, Basile spent 10 years at Cantor Commercial Real Estate managing production for the Washington, D.C., office in addition to holding positions in the firm’s securitization groups.
In a statement, Basile said he was “excited” to work with C&W and Greystone’s teams and leverage the partnership’s combined infrastructure to “provide an unparalleled experience for our clients.”
C&W executed a $500 million strategic investment with Greystone in late 2021 by acquiring a 40 percent stake in the multifamily lender’s agency, Federal Housing Administration and servicing businesses. The partnership, which was first explored in early 2021, boosted Greystone’s sales advisory reach to more than 1,000 professionals compared with the roughly 100 brokers in 26 offices prior to the deal.
Andrew Coen can be reached at acoen@commercialobserver.com
