{"id":12403,"date":"2024-09-18T20:06:52","date_gmt":"2024-09-19T01:06:52","guid":{"rendered":"https:\/\/1reason.com\/re\/trimont-signs-definitive-agreement-to-acquire-wells-fargo-non-agency-third-party-commercial-mortgage-servicing-business\/12403\/"},"modified":"2024-09-19T15:06:52","modified_gmt":"2024-09-19T20:06:52","slug":"trimont-signs-definitive-agreement-to-acquire-wells-fargo-non-agency-third-party-commercial-mortgage-servicing-business","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/trimont-signs-definitive-agreement-to-acquire-wells-fargo-non-agency-third-party-commercial-mortgage-servicing-business\/12403\/","title":{"rendered":"Trimont Signs Definitive Agreement to Acquire Wells Fargo Non-Agency Third-Party Commercial Mortgage Servicing Business"},"content":{"rendered":"
The transaction, backed by V\u00e4rde Partners, positions Trimont as the largest loan servicer, managing a combined $640 billion of loans in the United States, equivalent to approximately 11% of the U.S. commercial real estate lending market. <\/p>\n

A leader in complex non-bank credit servicing, Trimont primarily serves non-bank and alternative lenders, while CMS specializes in securitized debt products including CMBS conduit, SASB, CLOs, and Freddie Mac K-series. This acquisition enables Trimont to offer comprehensive servicing across all non-bank commercial real estate lending structures, including Master Servicing.<\/p>\n

\u201cTrimont and Wells Fargo\u2019s Commercial Mortgage Servicing are recognized experts in their respective areas of concentration. The businesses are highly complementary and combining them allows Trimont to provide a unique and comprehensive service offering to the increasingly sophisticated CRE lending market,\u201d said Bill Sexton<\/a>, CEO of Trimont. \u201cWe look forward to welcoming the team from Wells Fargo, and working with them to capitalize on our strengths as we continue to deliver superior service and value to the clients of both businesses.\u201d<\/p>\n

Funding for the transaction will be provided by V\u00e4rde Partners, a global alternative investment firm, which acquired<\/a> and has owned Trimont through certain funds since 2015. V\u00e4rde has over a decade of experience owning and developing real estate servicing platforms and is committed to its long-term investment in Trimont.<\/p>\n

\u201cThe addition of Wells Fargo\u2019s Commercial Mortgage Servicing business is accretive to Trimont and will strengthen its market position for years to come,\u201d said Jim Dunbar, Chair of Trimont and Partner at V\u00e4rde Partners. \u201cThis strategically important transaction positions Trimont to be a key partner to real estate capital providers given its breadth and scale of services. We are very excited to welcome the Wells Fargo CMS team to Trimont and enthusiastic about the growth trajectory ahead of the combined business.\u201d<\/p>\n

\u201cThis transaction is consistent with Wells Fargo\u2019s strategy of focusing on businesses that are core to our consumer and corporate clients,\u201d said Kara McShane, Executive Vice President, and head of Wells Fargo Commercial Real Estate. \u201cWe remain committed to our market-leading Commercial Real Estate business, and we will continue to serve our clients with a broad suite of lending, advisory and capital markets capabilities while leveraging our franchise to grow our Corporate and Investment Bank.\u201d<\/p>\n

The transaction is subject to customary closing conditions and is expected to be finalized in early 2025. Post-closing, Trimont will manage more than $715 billion in U.S. and international commercial real estate loans.<\/p>\n

J.P. Morgan Securities LLC served as financial advisor with Goldman Sachs & Co. LLC providing additional advisory services while Kirkland & Ellis, Cadwalader, Wickersham & Taft LLP, and Trilegal served as legal advisors to Trimont and V\u00e4rde Partners.<\/p>\n

About Trimont LLC<\/strong>
Trimont (www.trimont.com<\/a>)<\/a> is a specialized global commercial real estate loan services provider and partner for lenders seeking the infrastructure and capabilities needed to help them scale their business and make informed, effective decisions related to the deployment, management and administration of commercial real estate secured credit.<\/p>\n

Data-driven, collaborative and focused on commercial real estate, Trimont brings a distinctive mix of intelligent loan analysis, responsive communications, and unmatched administrative capabilities to clients seeking cost-effective solutions at scale.<\/p>\n

Founded in 1988 and headquartered in Atlanta, Trimont\u2019s team of 400+ employees serves a global client base from offices in Atlanta, Dallas, Kansas City, London, New York and Sydney. The firm currently has USD 240B in loans under management and serves clients with assets in 72 countries.<\/p>\n

About V\u00e4rde Partners<\/strong>
V\u00e4rde Partners is a leading global alternative investment firm specializing in credit and credit-related assets. Founded in 1993, the firm has invested more than $100 billion across the credit quality and liquidity spectrum in both public and private markets. V\u00e4rde currently manages over $13 billion in assets with teams in North America, Europe, and Asia Pacific focused on Corporate & Traded Credit, Real Estate, and Financial Services & Diversified Private Credit. For more information, please visit www.varde.com<\/a>.<\/p>\n

About Wells Fargo
<\/strong>Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 34 on Fortune\u2019s 2024 rankings of America\u2019s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy.<\/p>\n

For additional information, please contact:
Lauren Holmes
Executive Director, Marketing and Public Relations
Trimont
+1 404 581 7409
lholmes@trimont.com<\/a><\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

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Deal Makes Trimont the Largest Loan Servicer in the U.S. Commercial Real Estate Industry Representing 11% of U.S. Market<\/p>\n

ATLANTA, Aug. 20, 2024 (GLOBE NEWSWIRE) — Trimont, the leading global commercial real estate loan services provider, has entered into a definitive agreement to purchase Wells Fargo\u2019s non-agency third-party Commercial Mortgage Servicing (CMS) business, the largest servicer of CRE securitized debt in the U.S.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/12403"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=12403"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/12403\/revisions"}],"predecessor-version":[{"id":12503,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/12403\/revisions\/12503"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=12403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=12403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=12403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}