Property adviser CBRE has launched global 鈧�110 bn loan servicing business following the transfer of GE Capital鈥檚 interest in GEMSA Loan Services.
Property adviser CBRE has launched global 鈧�110 bn loan servicing business following the transfer of GE Capital鈥檚 interest in GEMSA Loan Services.
Established in 2001, GEMSA was a commercial loan-servicing joint venture between CBRE and GE Capital. From now on, all of CBRE鈥檚 loan servicing activities will be delivered through a wholly owned line of business within CBRE Capital Markets.
CBRE Loan Services, which manages over $120 bn (鈧�110 bn) of commercial real estate loan servicing worldwide, is led by Clarence Dixon. With offices in Houston, London, Frankfurt, Madrid and Sydney, CBRE services loans on behalf of its clients covering more than 20 jurisdictions globally.
'At CBRE we understand the underlying real estate asset as much as we understand the loan. This combination enables us to provide our clients with truly innovative solutions to meet their complex commercial real estate finance needs,' Dixon said. 'Launching CBRE Loan Services globally means our clients can receive the same high level service and consistency anywhere in the world.'
CBRE has serviced commercial mortgage loans since 1978 either directly or through its acquired predecessors. In the U.S. this was done through the GEMSA joint venture that became one of the largest commercial loan servicing companies in the country, servicing loans for life insurance companies, Freddie Mac, Fannie Mae, FHA, CMBS pools and pension funds. It has earned high commercial loan servicer enterprise ratings from Fitch and Standard & Poor鈥檚.
Chris Shamaly, previously general counsel of CBRE Capital Markets, will become senior managing director leading CBRE Loan Services in the Americas. Industry veterans and long-time GEMSA managers Chris Gaas, Steve Rapp and Dave Haley will transfer to CBRE, reporting to Shamaly.
In Europe, Steve Harle has recently been recruited as head of business strategies and development to support the growth of the CBRE Loan Services鈥� European platform. The Asia Pacific arm of CBRE Loan Services is managed by Martin Priestley in Sydney.
