Waterstone Asset Management, LLC Acquires Loan Portfolio

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Waterstone Asset Management LLC (“Waterstone”) announced it has purchased the primary and special servicing rights to a $500 million securitized portfolio of 800 C&I loans from Berkadia Commercial Mortgage LLC (“Berkadia”).

This is a great enterprise investment which launches Waterstone into the C&I industry.

Waterstone Asset Management LLC (“Waterstone”) announced it has purchased the primary and special servicing rights to a $500 million securitized portfolio of 800 C&I loans from Berkadia Commercial Mortgage LLC (“Berkadia”). Berkadia will act as the Master Servicer for the portfolio. As part of this acquisition, Waterstone will establish an office in Atlanta with the team of employees transferred from Berkadia.

“This is a great enterprise investment which launches Waterstone into the C&I industry. With billions in business and commercial real estate debt being re-distributed over the next few years; Waterstone is uniquely positioned to provide custom asset management services to investors”, said Waterstone’s Chief Executive Officer, John Church. “Our team of highly experienced asset management and servicing professionals are prepared to harvest the value of the loans and customers, using our unique processes to generate the highest return for the portfolio’s investors,” said Church.

Waterstone is targeting buyers of both performing and non-performing loan portfolios, and offers an alternative to large institutional commercial servicers who depend on scale to feed their platforms. Rather, Waterstone is equipped to aggressively manage smaller portfolios acquired by investors in today’s market, and offers highly customized reporting to its clients to better manage their investments.

Waterstone is also a sub-special servicer to Berkadia on Sovereign Commercial Mortgage Securities Trust, Series 2007-C1; a $700 million portfolio of small commercial loans. Waterstone obtained its special servicer rating from S&P and Moody’s in 2010.

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Mike Schoenstein
Waterstone Capital Advisors
(704) 926-6501
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