Greystone Real Estate and Rittenhouse Realty JV for Northeast Focus

NEW YORK CITY –  Commercial real estate lending and investment advisory firms Greystone and Philadelphia-based Rittenhouse Realty Advisors have announced they are combining their capabilities to form a joint venture to bulk-up their offerings to focus on the Mid-Atlantic and Northeast regions.

Managing Partners Ken Wellar and Corey Lonberger of the Rittenhouse Realty Advisors team combined share three decades of experience in providing commercial real estate advisory services to private capital and institutional investors in the Northeast. The newly formed Greystone Rittenhouse Realty Advisors team will include a total of seven sales and debt advisors.

“Joining forces with Greystone will provide our team with a full toolbox of financing options for clients, from debt to equity, and we can boost local market expertise for Greystone’s existing platform in the Mid-Atlantic and Northeast,” said Wellar in a prepared statement.

Over more than 15 years, Wellar has advised on the sale of over 23,000 multifamily units totaling more than $2 billion. Lonberger has more than 17 years of expertise in the multifamily sector and has advised on the sale of over 34,000 units totaling $2.8 billion in value. The team, which is actively involved in industry organizations such as NMHC and ULI, has experience across a range of asset types, including urban mixed-use properties, development sites, large-scale apartment communities, and privately-owned campus-adjacent student housing properties.

“For multifamily owners, Greystone has a thoughtful and strategic solution for every portfolio, whether it is for disposition, refinancing, or acquisitions and bridge financing to permanent debt, and we are thrilled to bring our capabilities to new clients in the Mid-Atlantic and Northeast regions,” said Jim McDevitt, president of Greystone Real Estate Advisors, in a prepared statement.