C-III Asset Management LLC earns Morningstar Credit Rating affirmation for MOR CS1 and MOR CS2 Commercial Mortgages

Posted by on May 27, 2019

On May 23, the wholly-owned subsidiary of C-III Capital Partners LLC, C-III Asset Management LLC, was assigned affirmation by Morningstar Credit Ratings, LLC for its MOR CS2 commercial mortgage primary-service ranking and its MOR CS1 commercial mortgage special-servicer ranking. Andrew Farkas is the founder, CEO, and chairman of commercial real estate services and asset management company C-III Capital partners.

Morningstar considers many factors when affirming primary-servicer rankings. C-III Asset Management, LLC earned Morningstar affirmation based on their operational resources and staff experience, procedures for proactive asset administration, integrated and effective loan administration platform, and internal-audit and compliance program.

Despite reducing its special-servicing workforce in 2018, C-III’s affirmed special-servicer ranking recognizes its ability to provide strong senior leadership, experienced asset managers with an extensive track record of results, and well-designed technology.

Looking back on 2018, as of December 31, C-III’s primary-servicing portfolio included 241 loans with an aggregate unpaid principal balance of approximately $4.88 billion. The company was also named a special servicer one Freddie Mac securitization and 117 CMBS transactions that totaled 1,597 loans with an estimated unpaid principal balance of $19.75 billion. The company also earned recognition as servicer and special servicer for one legacy commercial real estate collateralized debt obligation that included two remaining loans. Lastly, C-III was named servicer on two CLO transactions consisting of 39 loans, with one loan in this group earning special servicer status. The company’s active special-servicing portfolio contained 224 assets in total, 66 of which were loans and 158 REO properties with a total unpaid principal balance of $3.75 billion.

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