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Greystone Hires Managing Directors in Expansion of Houston Office

Lenders Targeting Multifamily as Market's Vacancy Rate Dips Into Single Digits
August 7, 2018
Blake Willeford (left) and Gill Dolan have joined Greystone's Houston office as managing directors.

Greystone, a national real estate lending and advisory company, continues to expand in Houston with the appointment of managing directors Blake Willeford and Gill Dolan. Greystone established a Houston office earlier this year with an investment sales team.

Willeford joins with 20 years of experience in the commercial real estate industry, having handled capitalizations for multifamily, retail, office, industrial, land and self-storage. Dolan joins Greystone with more 10 years of experience in commercial real estate finance, completing more than $1.5 billion of commercial real estate loan transactions. Prior to Greystone, both worked at Grandbridge Real Estate Capital, handling a wide array of categories.

"The timing couldn’t be better," Willeford said in announcing his arrival. "The Houston multifamily market fundamentals are as strong as we’ve seen in the last three years. Being a part of a company that recognizes opportunity and proactively seeks out ways to capitalize on it is incredibly exciting."

The Houston multifamily market continues to make strides in a positive direction. For the first time in two years, the market’s vacancy rate has dipped into single digits, at 9.9 percent, according to CoStar research. In total, more than 55,500 units came online from 2014 to 2016. Vacancy topped 11 percent in early 2017, and concessions were rampant. However, a slowly improving economy and rising oil prices resulted in an improving market, fueled further by Hurricane Harvey’s displacement of homeowners.

Kyle Hagerty, Houston Reporter  CoStar Group   
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