New York City.

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NEW YORK CITY – Greystone, a commercial real estate lending,investment, and advisory firm, has bulked up its special servicingcapabilities, acquiring Dallas-based C-III Asset Management, aspecial servicer with a $20.7 billion servicing portfolio. C3AM waspreviously a wholly-owned subsidiary of New York-based C-IIICapital Partners. 

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"Adding special servicing to our already vast commercial realestate finance expertise is very exciting," said Stephen Rosenberg,CEO and founder of Greystone, in a prepared statement. "The C3AMteam brings some of the brightest minds and greatest talents inthis industry to Greystone, and, under the leadership of Paul, welook forward to working with new clients, lenders, and otherparticipants in the special servicing market."

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Paul Smyth, who joined Greystone earlier this year, will lead thenew special servicing group at Greystone. He previously served aspresident of C3AM in a prior role before taking the global chiefcredit officer, CRE position at Credit Suisse in New York forseveral years. Smyth brings three decades of industry expertise tothe position and is tasked to grow special servicing as part ofGreystone's existing commercial real estate financeofferings.

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"I'm thrilled to be reunited with the team that leads the specialservicing market and to collaborate together under Greystone'sindustry-leading umbrella, which includes originating loans inexcess of nearly $14 billion annually across a variety ofplatforms," Smyth said in a prepared statement. "Now, the additionof a special servicing group will complement Greystone's newB-Piece initiative and will also give Greystone the ability toprovide our clients with an added customer-focused asset managementservice."

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Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.