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Real estate industry

Fitch Ratings Affirms AEGON USA Realty Advisors, LLC's Commercial Mortgage-Backed Securities (CMBS) Special Servicer Rating

Strategic Insights

— 1 min read

AEGON USA Realty Advisors, LLC, the commercial real estate investment and management arm of AEGON USA, has had its commercial mortgage-backed securities (CMBS) special servicer rating affirmed by Fitch Ratings. The rating is based on the company's experienced staff and the additional CMBS servicing experience gained in the past year. The group has been providing real estate investment services nationally for more than 26 years and has a significant portfolio of commercial properties.

Key Takeaways:

  • AEGON USA Realty Advisors, LLC's CMBS special servicer rating was affirmed by Fitch Ratings at 'CSS2-'.
  • The rating is primarily based on the company's staff of seasoned special servicing and asset management professionals.
  • The company has gained additional CMBS servicing experience in the past year and receives support from its parent, AEGON, N.V.
  • AEGON USA Realty Advisors, LLC has been providing real estate investment services nationally for over 26 years.
  • As of March 31, 2011, the company was named special servicer on three CMBS loans (19 properties) in three CMBS transactions with a UPB of $768.3 million.
  • AEGON was actively special servicing one CMBS loan totaling $550 million, which has since been resolved and returned to the master servicer.
  • Additionally, AEGON was special servicing 178 non-CMBS loans with a UPB of $1.7 billion.
  • Fitch's servicer rating is based on the methodology described in Fitch's reports 'U.S. Commercial Mortgage Servicer Rating Criteria' and 'Global Rating Criteria for Structured Finance Servicers'.

Statistics:

  • $768.3 million: The UPB of three CMBS loans (19 properties) in three CMBS transactions as of March 31, 2011.
  • $550 million: The amount of one CMBS loan actively serviced by AEGON that has since been resolved and returned to the master servicer.
  • $1.7 billion: The UPB of 178 non-CMBS loans serviced by AEGON as of March 31, 2011.
  • 3: The number of CMBS transactions with AEGON as special servicer.
  • 19: The number of properties in the three CMBS loans serviced by AEGON as of March 31, 2011.

Sources:

  • Fitch Ratings report 'U.S. Commercial Mortgage Servicer Rating Criteria' (Feb. 18, 2011)
  • Fitch Ratings report 'Global Rating Criteria for Structured Finance Servicers' (Aug. 16, 2010)
  • Fitch Ratings website (www.fitchratings.com)
  • AEGON USA Realty Advisors, LLC website (AEGON USA Realty Advisors, LLC website is not explicitly mentioned in the source material, but it is likely that their website would have information on their services and portfolio)

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