The Situs Companies Snags Former Workout Specialist of SunAmerica, Steve Hanover

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The Situs Companies announces the appointment of Steve Hanover as Managing Director of Special Servicing. Steve will be responsible for the day-to-day operations of the Situs Asset Management Special Servicing business in the US, which includes loan restructurings, REO asset management and other CRE advisory assignments. Hanover previously served as Vice President of SunAmerica Investments, Inc., which is the investment subsidiary of SunAmerica, Inc., a publicly traded insurance company subsequently purchased by AIG where he was responsible for loan workouts and trouble asset resolution.

The Situs Companies has had a long history with Steve Hanover and SunAmerica, as they were one of our company's first loan advisory and special servicing clients in the early 1990's. SunAmerica was very active in the downturn of the 1990's providing liquidity to distressed sellers of commercial mortgage loans.

The Situs Companies announces the appointment of Steve Hanover as Managing Director of Special Servicing. In his new role, Steve will be responsible for the day-to-day operations of the Situs Asset Management Special Servicing business in the US, which includes loan restructurings, REO asset management and other CRE advisory assignments and will be reporting directly to Bruce Nelson, Principal. Situs has traditionally targeted balance sheet lenders with highly structured commercial real estate mortgages and smaller balance commercial loans.

"We are excited to welcome Steve to the Situs family, his experience on the principal side of the business compliments our global corporate model of providing high value advisory support and emphasizes our commitment to the life company and balance sheet sector of our industry. Steve will also interface with Situs' affiliate, Oasis Real Estate Partners, a capital markets and loan advisory business headed by Jeffrey Fastov", said Bruce Nelson, Principal and Head of Situs' Global Asset Management Operations.

Steve previously served as Vice President of SunAmerica Investments, Inc., which is the investment subsidiary of SunAmerica, Inc., a publicly traded insurance company subsequently purchased by AIG where he was responsible for loan workouts and trouble asset resolution. Steve brings more than 22 years of comprehensive workout experience in restructuring, bankruptcy, foreclosure, litigation, single and bulk commercial real estate mortgage portfolios and real property re-development throughout the U.S.

"The Situs Companies has had a long history with Steve Hanover and SunAmerica, as they were one of our company's first loan advisory and special servicing clients in the early 1990's. SunAmerica was very active in the downturn of the 1990's providing liquidity to distressed sellers of commercial mortgage loans." added Steve Powel, Principal and COO of The Situs Companies.

Hanover earned a Bachelor of Science from the University of Southern California. He holds a Real Estate Broker's License in the State of California, as well as, a California State Architectural License.

About Situs: The Situs Companies is a leading provider of commercial real estate services and consulting solutions to many of the world's most prominent financial institutions, institutional investors, private owners, and developers. Since 1985, clients have relied on Situs' trusted insight and experience into commercial real estate. Combining creativity, flexibility and strategic planning, the company offers services including, Real Estate Consulting, Strategic Real Estate Advisory, Loan Servicing & Asset Management, Outsourcing Solutions, and Brokerage Services. Privately held, Situs is headquartered in Houston, TX and has offices through the United States, Europe and Asia. Visit our website at HYPERLINK "http://www.situscompanies.com" http://www.situscompanies.com.

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