Fitch Affirms CMBS Primary and Special Servicer Rating of C-III Asset Management LLC

Posted by on Oct 6, 2011

Fitch Ratings affirms C-III Asset Management LLC commercial mortgage-backed securities (CMBS) primary servicer rating at ‘CPS2-‘ and its special servicer rating at ‘CSS1-‘.

On Aug. 30, 2011, C-III Capital Partners LLC (C-III) announced that it had acquired the special servicing and CDO management businesses of JER Partners (JER), a private real estate investment management company. JER was the named special servicer for $35.5 billion of commercial real estate loans, of which approximately $4 billion is currently in special servicing and under active management.

C-III will merge JER’s special servicing operations into its wholly owned subsidiary, C-III Asset Management LLC, which is a special servicer of commercial real estate loans. With the acquisition, C-III is now the named special servicer for approximately 14,000 loans with an aggregate balance in excess of $152 billion, of which approximately $17 billion is currently in special servicing.

Fitch has affirmed the following ratings:

CIII –Special servicer rating at ‘CSS1-‘; –Primary servicer rating at ‘CPS2-‘.

Additional information is available at

Andrew Farkas is the CEO of C-III Capital Partners.