Situs Selected As Loan Servicer By Attestor Capital For Purchase Of Stack Portfolio And Opens Netherlands Office
Situs to provide Loan Servicing for Project Stack, a portfolio of €220 million ($260 million) of CRE Loans, secured by real estate in the Netherlands; opens office in Amsterdam.
NEW YORK and LONDON, Aug. 3, 2017 /PRNewswire/ -- Situs, the premier global provider of strategic business solutions for the finance and real estate industries, announced today that it has been selected by Attestor Capital as loan servicer and workout specialist on a portfolio of CRE loans collateralized by Dutch real estate. The loan book has a face value of appx. €220 million ($260 million), comprising around 50 borrower groups with approximately 150 properties as collateral. The engagement coincides with Situs opening its Amsterdam office to provide services to the CRE Market in the Netherlands.
"The Project Stack engagement represents the culmination of a considerable amount of collaboration between Attestor Capital and Situs, to establish a bespoke servicing solution to meet Attestor's particular needs," said Wilhelm Hammel, Head of Distressed Solutions at Situs. He adds, "This engagement further endorses Situs' reputation as the advisor and servicer of choice in the European NPL market, in particular for complex loan portfolios. We are delighted to assist Attestor Capital in this deal."
"Our previous recent involvement in NPL transactions in the Netherlands made it a logical decision to open an office in Amsterdam this year. We very much look forward to working closely with Attestor Capital on Project Stack and in expanding our involvement in the CRE Market in the Netherlands from our new office. This engagement shows how Situs is expanding its suite of services and solutions to meet the demands of European and U.S. financial institutions in the European CRE space," said Christian Bearman, CEO of Situs Europe.
Since acquiring Hatfield Philips in November of 2016, Situs has become the market-leading independent loan servicing and non-performing loan management firm in Europe, with over €145 billion ($160 billion) in combined assets under management globally.
ABOUT SITUS
Situs is the premier global provider of strategic business solutions for the finance and 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. 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 (€145 billion) of assets under management and is ranked a top 20 servicer in multiple categories by the Mortgage Bankers Association.
MEDIA CONTACT
SITUS
Media Relations
Cecilia Panozzo
Phone: + 1 212 294 1304
Cecilia.panozzo@situs.com
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