Deutsche Bank Sells Commercial Servicing Business

""Situs"":http://www.situs.com/ announced the expansion of its operations in Europe with the acquisition of ""Deutsche Bank's"":https://www.db.com/index_e.htm London-based commercial mortgage servicing business.

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The acquisition includes CMBS and balance sheet servicing, asset management, and special servicing and makes Situs one of the largest third-party commercial real estate servicers in Europe with nearly ├â┬ó├óÔé¼┼í├é┬¼20 billion under management.

""This acquisition underscores the strength of our relationship with Deutsche Bank, the efficiency of our servicing model, and the demand for research and insight based on transparency, integrity, and deep industry expertise,"" said Situs COO W. Bruce Nelson.

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The announcement marks another step in Situs' growth since entering the European market in 2004. Since then, the company has made a number of acquisitions and partnerships involving other big players, including Global Servicing Solutions Germany and ""HSH Nordbank"":http://www.hsh-nordbank.com/en/homekundenbereiche/homepage.jsp.

In 2011, Situs was acquired by Helios AMC, a rated special servicer sponsored by ""the godfather of mortgage finance,"" Lewis Ranieri. Helios then adopted the Situs Companies name.

""This deal represents a milestone in the acceptance of third-party servicing and asset management as a viable, trusted solution in the European marketplace,"" said Hugo Raworth, managing director for Situs. ""Deutsche Bank's servicing business has a well-earned reputation for responsiveness and transparency in the commercial mortgage market. We look forward to continuing this high level of customer service, which has been the hallmark of Situs' success over the past 27 years.""

Situs' new acquisition represents the company's second transaction with a major European financial institution in the past two years.

With offices now in London, Frankfurt, Dublin, and Copenhagen, the firm announced it plans to continue its pursuit of other transactions in the United States and Europe to leverage its business model.