Greystone Enters Michigan Market with New JV

The new joint venture with Commercial Property Advisors will focus on providing multifamily advisory services for clients in Michigan. Cary Belovicz will lead the new organization as an executive managing director.
Cary Belovicz, executive managing director of  Greystone Bel Real Estate Advisors

Cary Belovicz, executive managing director of Greystone Bel Real Estate Advisors

Greystone expanded its multifamily platform through a new joint venture with Commercial Property Advisors of West Bloomfield, Mich. Greystone Bel Real Estate Advisors will operate in the Midwestern state, where it will offer a full range of multifamily advisory services to clients interested in market-rate and affordable housing properties.

The new partnership will leverage Greystone’s financial platform and Commercial Property Advisors’ multifamily sales expertise in the area. Cary Belovicz, CEO & founder of the Michigan-based real estate services company, will lead the regional Greystone Bel Real Estate Advisors team as an executive managing director.

Experienced team

Belovicz and his team will use their experience in finance, development and management of multifamily assets to complement Greystone’s debt and equity platforms. Before starting Commercial Property Advisors, Belovicz worked for Hendricks & Partners (now Berkadia), but his industry experience also includes marketing and selling assets for Key Bank, Hartford, AIMCO, CapMark and Centerline (now Hunt Mortgage Group).

“With their breadth and depth of experience beyond just sales advisory work, we know that the value of this addition will stretch beyond transactions, and truly lie in the holistic advisory relationship built with clients,” Jim McDevitt, president of Greystone Real Estate Advisors, said in prepared remarks.

Image courtesy of Gresytone