Greystar Real Estate Partners, LLC has reached the final close of Greystar Credit Partners III, LP. The $600-million commercial real estate debt fund will focus on acquiring securitized subordinated debt and on private label securitizations, junior notes, and mezzanine debt collateralized by the continuum of for-rent residential assets.
“GCP III is the continuation of an effort initiated in 2018 to scale into credit strategies that leverage the firms nearly 30 years of multifamily operating expertise to make thoughtful, data-driven and timely principal investment decisions,” said Brett Lashley, managing director and leader of credit at Charleston, SC-based Greystar.
“Greystar’s credit business has raised over $2 billion of unlevered capital and continues to expand the focus of the business with additional CRE debt-oriented strategies. While we’ll always be patient stewards of the capital entrusted to us, we look forward to deploying this capital in an environment with potentially improving risk/return metrics.”