Situs: CMBS Resolutions Are Ahead Of Forecast
Commercial real estate advisory firm Situs is seeing brisk business in 2013. “We are seeing growth in all of our business lines, from commercial real estate advisory to our staffing solutions business,” said Steve Powel, president.
On the servicing side, the company has been resolving commercial mortgage-backed securities loans ahead of forecast and is also seeing opportunities to help community and regional banks resolve their loans. “Traditionally, they’ve done this in house but there is a greater acceptance of outsourcing that service,” Powel said.
Although Situs had been seen as exploring a potential sale (REFI, 7/23), this is not in the cards. “Situs is not in the process of being acquired, and we are not actively looking for a buyer,” Powel said, adding that growth will be organic.
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