Global commercial real estate servicer Situs expects to see activity in the debt space shift from legacy debt to new loan origination, reflecting a wider change in the European financing market, managing director Hugo Raworth and chief operating officer Bruce Nelson told PropertyEU.
Global commercial real estate servicer Situs expects to see activity in the debt space shift from legacy debt to new loan origination, reflecting a wider change in the European financing market, managing director Hugo Raworth and chief operating officer Bruce Nelson told PropertyEU.
'Over the past months we have largely been advising banks on their legacy debt positions but from next year we also expect to work on new debt,' they said.
The Texas, US-based firm has built up a €20 bn portfolio under management in Europe since its entry into the market in 2004.
Raworth said the swift growth experienced in the loan servicing business reflects a wider trend to outsource loans on the part of European banks which are striving to re-focus on their core businesses.
In total, Situs has advised on over €5 bn of deals over the past 12 months, he added.
‘We are well positioned to help banks with their legacy loans and we are getting ready to close another major loan operation in Germany,’ Raworth said.
In Germany, Situs acquired Deutsche Bank’s London-based commercial mortgage loan servicing business last year. In 2011, Situs partnered with HSH Nordbank and Helios AMC to offer loan servicing and advisory services in the Nordic region.
