LONDON, June 20, 2014 /PRNewswire/ -- Hatfield Philips International ("HPI"), Europe's largest independent commercial real estate loan servicing firm, today confirmed that it is fully committed to ensuring a smooth transfer of servicing on Windermere XIV.
Hatfield Philips states that it has been and will continue to work in good faith with the successor servicer to reach a reasonable agreement regarding liquidation fees. As provided in the transaction documents, Hatfield Philips seeks to be fairly compensated only for the special servicing duties it has carried out to date, which have led or will lead to concrete and measurable value creation for noteholders.
Once a reasonable agreement on liquidation fees is reached, Hatfield Philips fully intends to sign the documentation required to facilitate the transfer of servicing. Hatfield Philips makes clear that it wishes to resolve this matter in an expedited manner, and has no interest in delaying the process.
Hatfield Phillips is awaiting response from the successor servicer regarding its latest compromise.
About Hatfield Philips International Ltd.
Hatfield Philips International is one of Europe's largest primary and special servicers with over £15 billion assets under management. Since its inception in 1997, the Company has established itself as a full-service loan servicer, offering a complete suite of products and services to a wide range of clients that issue, own or invest in commercial mortgage backed securities and loan portfolios. Hatfield Philips is a subsidiary of LNR Property, a United States-based real estate investment, finance, management and development firm, which was acquired by Starwood Property Trust in April 2013.
SOURCE Hatfield Philips International