NEW YORK-Situs has been selected by Hypothekenbank Frankfurt AG (formerly EuroHypo AG) as its loan servicing and asset management partner for its U.S. Portfolio.
Situs' mandate includes approximately $2 billion of performing commercial real estate loans, located throughout the top 20 U.S. cities. Hypothekenbank, is a subsidiary of Frankfurt-based Commerzbank.
“We have been continuing to expand our asset management business over the past four years through a series of acquisitions and partnerships,” said Steve Powel, president of Situs. “The primary contributor to our success has been our flexibility to adapt to our clients' specific strategic objectives and the comprehensiveness of our professional services platform. Since Situs was acquired by Helios AMC in 2011, assets under management have grown to more than $75 billion.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
