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Situs Selected as Loan Servicer, Facility and Security Agent to Loan Portfolio Acquired by Colony Northstar, Inc., in Ireland

PR-Inside.com: 2017-02-16 10:03:02

Situs to provide Loan Servicing for Project Tolka, a portfolio of €1.3 billion of CRE Loans, secured by Irish real estate, including several Trophy Assets in the center of Dublin

Situs Selected as Loan Servicer, Facility and Security Agent to Loan Portfolio Acquired by Colony Northstar, Inc., in Ireland

Media Relations
For Situs:
Jon Brubaker, 646-395-6315
Jon.Brubaker@cognitomedia.com

Situs, the premier global provider of strategic business solutions for the finance and commercial real estate industries, announced today that it has been selected by Colony Northstar, Inc., as loan servicer and security/facility agent on a portfolio of loans collateralized by Irish real estate. The loan book has a face value of €1.3 billion ($1.39 billion).

“We are delighted to work with Situs on this portfolio. As one of Europe’s largest independent servicers, they’re known for the quality of their solutions and we look forward to continuing and expanding our relationship,” said Stefan Jaeger, Managing Director of Colony Northstar, Inc., in London.

“This deal validates Situs’ strategy in acquiring Hatfield Philips International (HPI), whereby Situs’ former expertise and reputation as a servicer to the loan on loan financing market has been augmented by HPI’s expertise as a leading servicer of non-performing commercial real estate loans,” said Wilhelm Hammel, Head of NPL Advisory at Situs.

Since acquiring HPI in November of 2016, Situs has become the market-leading loan servicing and non-performing loan management firm in Europe, with over €145 billion ($160 billion) in combined assets under management globally.

“Following Situs’ recent acquisition of HPI, the Colony Northstar deal is proof of Situs’ expanded capabilities to meet burgeoning demands of European and U.S. financial institutions in the CRE space,” said Christian Bearman, CEO of Situs Europe. “As the needs of our clients evolve, Situs is working hard to deliver an expanded suite of professional services and diversify our business to better serve clients in Europe and beyond.”

ABOUT SITUS

Situs is the premier global provider of strategic business solutions for the finance and commercial real estate industries, trusted to evaluate, optimize, and manage critical assets and securities; from commercial and residential real estate, to small and medium enterprise and consumer lending. Since 1985, Situs has set the standard in financial services for service, quality and execution. Based in Houston, TX, Situs has offices across the US, Europe and Asia and has been involved in more than $1 trillion of real estate debt and equity deals. A rated servicer with Moody’s, Fitch and Morningstar, Situs has more than $160 billion of assets under management and is ranked a top 20 servicer in multiple categories by the Mortgage Bankers Association. In 2016, Situs received a second consecutive “Advisor of the Year” award by Real Estate Finance & Investment magazine, and the “Capital Advisor Firm of the Year” award by Property Investor Europe.

Press Information


Published by
Hossam Abdel-Kader
+43 1 9582319
e-mail
www.pr-inside.com/



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