Loan Agency and Servicing Receives Two Primary Servicing Upgrades in March
CBRE's growing Loan Agency and Servicing team has been awarded two upgrades from ratings agencies Fitch and Standard & Poor’s for its primary servicing business in the last month.
Servicers are independently assessed by ratings agencies to provide an objective indication of their ability to effectively service commercial mortgage-backed securities (CMBS), bilateral, syndicated and club deals as well as debt funds. The ratings incorporate an analysis of the servicer's experience, management, staff, training programmes, procedures, controls, and systems amongst other criteria.
Fitch cited the impressive nature of the new primary servicing mandates the team, known as CBRE Loan Servicing Limited, attracted in 2011, particularly the levels of new business won vs. peers in the market. Standard & Poor’s cited similar reasons for their upgrade, which included notes on portfolio growth, positive team restructuring and system developments.
Since becoming the first real estate advisory firm to launch a rated loan servicing platform in 2005, CBRE's 12 strong team managed, as at 31 December 2011, loans across Europe totalling approximately £9.8 billion. This comprises £6.6 billion in primary servicing (encompassing 92 loans and 1,997 commercial properties) and £3.2 billion in special servicing (encompassing 24 loans secured by 76 commercial properties). The team also has a number of mandates advising on loan syndications, debt funds, loan book acquisitions and work out strategies.