Lender Greystone appoints new CEO and seeks to expand its financial services

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Real estate finance company Greystone has appointed former bank manager Hafize Gaye Erkan as CEO.

Erkan was most recently Co-CEO, Chair and Board Member of First Republic Bank (NYSE: FRC) where she oversaw growth, wealth management, deposits and total assets. Prior to that, she worked as Head of Financial Institutions for Analytics and Group Strategies at Goldman Sachs (NYSE: GS).

Erkan said in an announcement about her hiring that she is “honored to become CEO at this exciting time in Greystone’s history.”

“I look forward to using my banking and wealth management expertise to expand Greystone into new areas of financial services and build on the company’s strong foundation in real estate finance,” Erkan said in a statement. the announcement.

Greystone has issued nearly $5 billion in loans to senior housing corporations. Recent examples include the $24.7 million loan to Northbridge Companies for a community in Mashpee, Massachusetts; and a $103 million loan for a Chicago-area senior housing complex.

Erkan’s appointment signals that the company is venturing into new areas of financial services, including expanding lending products and private wealth management, a Greystone representative told SHN. The company is also exploring private banking and residential mortgage lending opportunities.

Erkan, along with Greystone Chairman Steve Rosenberg, is undertaking a number of steps to prepare the company for its next stage of growth. The company is specifically looking to accelerate its commercial and multifamily real estate lending and capital markets businesses and invest in technology, operations and people, according to the announcement.

Greystone is the Federal Housing Administration’s #1 multifamily and healthcare lender by firm commitments and one of Fannie Mae’s and Freddie Mac’s Top 10 Multifamily Home Lenders. In 2021, Greystone produced $19 billion in CRE transaction volume, and the company currently manages a combined primary and special lending servicing portfolio of over $80 billion across a wide variety of commercial property types.

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