Stephen Rosenberg

Everyone in commercial real estate agrees that 2024 was a challenging year for the industry, but Stephen Rosenberg believes the last 12 months brought tremendous opportunity to his CRE investment firm, which he defines as “a solutions provider.” 

“Historically, when capital is easy and interest rates are low, how do you win new clients? You go golfing with them, you go out to dinners, you build relationships,” Rosenberg explained. “But challenges for Greytone are also opportunities, and what we find is when people are having problems, you can build a relationship in 60 seconds by providing solutions.” 

Whether its preferred equity, joint venture equity, or lending credit to borrowers in all shapes and sizes, Greystone delivered for its clients and partners in 2024. The firm sealed $11.8 billion in originations between March 2024 and March 2025. 

“Especially for those borrowers that don’t have the deepest pockets, and who syndicated a lot of equity to their friends and family, it’s hard for them to make that call to come up with the extra 20 or 30 percent,” said Rosenberg. “To buy down, or pay down, that portion of the loan that can’t be refinanced, that’s where we can hopefully provide solutions.”

And the results speak for themselves. The firm is the No. 1 Department of Housing and Urban Development lender for multifamily and health care assets, it’s a top 10 lender for both Fannie Mae and Freddie Mac, and it’s the No. 1 Fannie Mae small loans lender in the nation. 

Additionally, the firm announced a $500 million joint venture with BlackRock in October 2024, with as much as $200 million raised by Greystone so the fund can leverage lines of credit to originate affordable housing construction loans. 

“It’s going very well,” said Rosenberg. “It’s the one thing the country is screaming for.” 

More than anything, Rosenberg said his firm is driven to give back. A remarkable 50 percent of Greystone profits are given to families in dire straits around the world. 

“Even though we’re not perfect at what we do, our mission is to enhance the lives of others,” Rosenberg explained. “So many things going on around us are not in our control, but there seems to be a magic to providing help, aid and love to those less fortunate than us, an almost protective type of benefit. That’s one of the karma laws of physics.”