LONDON, April 10, 2014 /PRNewswire/ --Hatfield Philips International ("HPI"), Europe's largest independent commercial real estate loan servicing and advisory firm, today provided an update on its first quarter business activity.
During the first quarter of 2014, HPI was awarded eight servicing mandates totaling 23 loans secured by more than 250 properties, with a total unpaid principal balance of approximately £650 million. The firm also provided due diligence and advisory services on eight non-performing loan (NPL) deals totaling approximately £15.2 billion. Collectively, the NPLs are secured by more than 4,000 properties. Furthermore, HPI is in the process of finalizing a co-invest opportunity on an NPL portfolio secured by properties across Europe.
"We have made considerable progress winning important mandates across our multiple lines of business to start the year," said Blair Lewis, Chief Executive Officer of HPI. "The momentum we have achieved thus far demonstrates that Europe's leading debt issuers and investors recognize our unique value proposition and trust in our ability to advance their business and investment objectives. Additionally, we have achieved an alignment of interests with our clients through strategic NPL co-investments. HPI will continue to work toward identifying mutually beneficial business opportunities across all business lines in 2014 and beyond."
Derek Rich, Managing Director of LNR Partners Europe added, "We have become a valued partner in Europe's distressed real estate space by leveraging our unparalleled commercial real estate and loan workout expertise. The depth of our platform, institutional knowledge and our principal mindset allow us to best serve our clients in evaluating investment opportunities and delivering best in class loan asset management."
The first quarter activity reflects HPI's ability to leverage its market leading intelligence, extensive relationships, innovative technology platform and proven track record to drive business across its portfolio of services.
About Hatfield Philips International Ltd.
Hatfield Philips International is one of Europe's largest primary and special servicer with over £15 billion assets under management. Since its inception in 1997, the Company has established itself as a full-service loan servicer, offering a complete suite of products and services to a wide range of clients that issue, own or invest in commercial mortgage backed securities and loan portfolios. Hatfield Philips is a subsidiary of LNR Property, a United States-based real estate investment, finance, management and development firm, which was acquired by Starwood Property Trust (NYSE: STWD) in January 2013.
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