NEW YORK CITY—Greystone has expanded its sales advisory group, Real Estate Advisors, to include multifamily properties. Leading the group will be new hire Jim McDevitt, who joins Greystone as president of the multifamily sales advisory team.

Real Estate Advisors will advise owners of multifamily properties seeking to acquire or divest assets nationwide. McDevitt—who most recently served as president at Berkeley Point Capital, where he was responsible for all operations including originations, underwriting and closing—brings decades of leadership and a wide array of investment sales experience to Greystone.

“Simply put, our clients have expressed a need for multifamily sales advisement, and because our goal is to be as full-service as possible, we sought out the right talent to build this team,” says Stephen Rosenberg, founder and CEO of Greystone. “I know that Jim's specialized expertise will serve as a valuable complement to our existing lending and sales advisory services.”

Prior to working at Berkeley, McDevitt was a senior executive for almost two decades at Wells Fargo Bank, holding the role of EVP and head of correspondent development, as well as having previously served as group head of mortgage Banking and group head of multifamily capital. While at Wells Fargo, McDevitt also served as head of production for CMBS and spearheaded the acquisition of several mortgage banking companies. Earlier in his real estate career, McDevitt served at both CBRE and Colliers.

McDevitt has also served on key industry advisory councils and boards including NMHC Advisory Council; NMHC Board of Directors; MBA's Capital Markets Committee; and the National Association of Homebuilders.

“My decision to join Greystone was an easy one,” says McDevitt. “For me personally, and for this business model, it was a perfect fit. My relationship with the company goes back to my days at Wells Fargo when we joined forces with Greystone to underwrite and close Fannie Mae loans for our clients. The ease and efficiency with which they did so provided an extraordinary customer experience.”

He adds, “Greystone has been a leader in providing agency financing to the private capital client. By building an investment sales advisory platform with that same focus, we will be the only firm in the industry with a fully integrated approach to those customers. With the increased focus by the agencies on affordable housing and smaller loan balances, the timing could not possibly be better for this approach."

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