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Situs Asset Management is a leading provider of primary servicing for investors who require superior commercial real estate insight, across all property types in the US and Europe. Our clients and partners typically retain credit risk in senior and subordinate loan structures, including mezzanine, A/B subordinated positions, participations, collateralized debt obligations (CDOs) and commercial mortgage-backed securities (CMBS).
Primary Loan Servicing
Situs provides primary loan servicing and surveillance for performing, sub-performing and non-performing commercial real estate loans. Our experience spans multiple market cycles, and all property types. Our clients generally consist of insurance companies, private equity, opportunity and hedge funds, who retain credit risk, and require a higher level of CRE asset management experience, and/or private labeling customer support. Situs has extensive experience with small balance non-performing loan portfolios, as well as complex multiple property large loans.
Basic Services include
- Cash collections and disbursements
- Asset and borrower request management
- Cash management
- Escrow and Reserve administration
- Financial statement management
- Property Inspections
- Customized investor reporting
Situs is a rated Primary Servicer by Fitch Ratings, Standard & Poor’s, and Morningstar, and approved by Moody’s (click here to review the report).
Situs has created a relationship-based structure whereby asset managers are assigned as the single point-of-contact enhancing customer service and providing the highest level of oversight for the following activities:
- Borrower-initiated requests: modifications, consents, waivers, assumptions (due on sale / encumbrance)
- Lease review and analysis
- Special servicer liaison
- Reserve and draw disbursement oversight
- Watch list and covenant monitoring pursuant to loan and servicing agreement
- Construction loan administration and draw requests.
Surveillance and Warehouse Line Management
Situs’ commercial real estate centric platform provides a unique infrastructure to deliver detailed property and loan level surveillance on a monthly and quarterly basis. Our tenured real estate professionals provide deep experience across all property types and markets. Supported by our advisory staff, and our own proprietary commercial market data portal, Situs InsightTM, we offer unparalleled research that supports our surveillance activities.
- Property performance analysis and valuation
- Tenant monitoring and review
- Confirmatory due diligence and re-underwriting
- Market surveys and feasibility studies
- Quarterly asset reports
- Client investment committee preparation and review
Related Commercial Real Estate Professional Services
Situs provides a unique end-to-end business services platform. Please refer to our Advisory & Consulting and Back Office Fulfillment groups for other related CRE advisory services.