Wells Fargo to sell its non-agency third-party Commercial Mortgage Servicing business to Trimont

- Wells Fargo on Tuesday agreed to sell its non-agency third-party Commercial Mortgage Servicing business to Trimont, a move that will make the firm the largest servicer of commercial real estate securitized debt in the United States.

The"strategically important transaction" will position Trimont to be a key partner to real estate capital providers, said Jim Dunbar, Chair of Trimont and Partner at Värde Partners. "This transaction is consistent with Wells Fargo's strategy of focusing on businesses that are core to our consumer and corporate clients," said Kara McShane, executive vice president and head of Wells Fargo Commercial Real Estate, in a statement.Funding for the deal will be provided by Värde Partners, an alternative investment firm, which acquired and has owned Trimont through certain funds since 2015.

The deal, for which no value was disclosed, is expected to close in early 2025, pending certain conditions, and will result in Trimont managing over $715 billion in U.S. and international commercial real estate loans.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Wells Fargo says this group of stocks is well positioned for accelerating growthWells Fargo says this group of stocks is well positioned for accelerating growth
출처: Investingcom - 🏆 450. / 53 더 많은 것을 읽으십시오 »

Wells Fargo: With Fed expected to cut 175 bps through 2025, buy the dip in stocksWells Fargo: With Fed expected to cut 175 bps through 2025, buy the dip in stocks
출처: Investingcom - 🏆 450. / 53 더 많은 것을 읽으십시오 »

Wells Fargo Empowers CDFIs To Expand Their Small Business ImpactGeri Stengel has written about the success factors of women entrepreneurs in Forbes for 10+ years.
출처: ForbesWomen - 🏆 477. / 51 더 많은 것을 읽으십시오 »

'Buy stocks, not the stock market': Wells Fargo'Buy stocks, not the stock market': Wells Fargo
출처: Investingcom - 🏆 450. / 53 더 많은 것을 읽으십시오 »