a leading global alternative investment firm specializing in credit and credit-related assets today announced that it has acquired Unity Investment Management from Unity Medical Properties Operating as a wholly owned subsidiary of Värde Unity Investment Management will oversee the day-to-day management and leasing of 74 medical outpatient buildings (MOBs) with a combined value of more than $800 million This transaction supports Värde’s recent acquisition of a $700 million portfolio of 61 MOBs 59 of which closed in July 2024 and two of which closed in November 2024 which totals approximately 2.75 million square feet across 16 states includes tenants across a range of medical clinical practice types providing essential outpatient care in their communities “Building on our years of investing with the Unity team this transaction enables us to expand Värde’s presence in healthcare real estate and continue our strategy of developing thematic asset verticals,” said Tim Mooney Managing Partner and Global Head of Real Estate at Värde “The long-term structural shift in healthcare from in-patient care to outpatient care creates a compelling dynamic to invest in this sector and we expect there will be an opportunity to grow our portfolio to over $2 billion over the coming years Our conviction in the sector is bolstered by the defensive nature of the assets with sticky recession-resilient underlying businesses and strong cashflow yields.” “We look forward to developing a robust MOB investing program in partnership with Värde Partners,” said David Lynn “We are committed to working closely with our medical tenants to ensure they have the real estate footprint and services they need to continue delivering critical care to their patients.” Värde has over 30 years of experience investing in real estate credit and assets with deep expertise across all major asset classes Värde’s global real estate team is supported by in-house asset management professionals as well as a partnership with an industry-leading servicer and asset manager Värde was advised on the transaction by Evercore as exclusive financial advisor and Kirkland & Ellis LLP as legal counsel Westlake served as financial advisor on the recent MOB asset acquisition Unity Investment Management (UIM) is a vertically integrated healthcare real estate investment platform with extensive capabilities in acquisitions UIM focuses on improving operational performance enhancing tenant relationships and making strategic capital improvements Värde Partners communications@varde.com on the €112 million term loan facility to companies in the Ghelamco Group a European real estate investor and developer UK-based Trimont Europe Limited acted as third party security agent and facility agent The facility has been used to refinance the property known as The Wings which is located close to Brussels airport Opened in early 2024 and hailed as a "sustainable masterpiece" The Wings contains 50,000m² of office space and a hotel wing WELL 'Gold' and DGNB 'Gold' certifications The Wings is the first building in Belgium to generate its own geothermal energy and consumes no fossil fuel The building itself generates the energy needed for all in-house business and amenities Värde is a leading global alternative investment manager specialising in credit and credit-related assets It has invested more than US$100 billion across the credit quality and liquidity spectrum in both public and private markets and currently manages US$17 billion in assets with teams in North America Europe and Asia Pacific with a focus on real estate Dentons' London-based Real Estate Finance partner, Joe Byron Evans said: "It was a pleasure to advise Värde on the refinancing of this trophy asset and it showcases Dentons' cross-border real estate finance capabilities This was another fantastic opportunity to work with the Värde real estate finance team and we were delighted to collaborate with all parties to deliver a successful outcome on this structured transaction in the required timeframe." Redefining possibilities. Together, everywhere. For more information visit dentons.com joe.byronevans@dentons.com james.ingham@dentons.com D +44 20 7320 6827 © 2025 Dentons. All rights reserved. Attorney Advertising. Dentons is a global legal practice providing client services worldwide through its member firms and affiliates. This website and its publications are not designed to provide legal or other advice and you should not take, or refrain from taking, action based on its content. You are switching to another language. Please click Confirm below to continue. You will now be taken from the global Dentons website to the $redirectingsite website. To proceed, please click Accept. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world The company sees the move helping grow its entire portfolio passed $2 billion. The new wholly owned subsidiary of the credit-asset-focused company will assume the duties of leasing and managing 74 medical outpatient buildings A big chunk of that will support Värde's recent portfolio acquisition of 61 medical outpatient buildings for $700 million which takes up 2.75 million square feet across 16 states The tenants in that concentration specialize in medical clinic practices Given the shift to outpatient from in-patient care managing partner and global head of real estate at Värde sees the opportunity from Unity Investment to help grow its entire portfolio passed $2 billion "over the coming years." this transaction enables us to expand Värde’s presence in healthcare real estate and continue our strategy of developing thematic asset verticals,” he said "Our conviction in the sector is bolstered by the defensive nature of the assets with sticky The investment management arm was sold by Unity Medical Properties As commercial real estate investment appetite comes back, healthcare has been leading the resurgence Mortgage originations for properties in the sector were up 510 percent year-over-year in the third quarter according to a report from Mortgage Bankers Association Jaime Northam, vice president of healthcare development for Ryan Companies, who will be a speaker at GlobeSt.'s annual healthcare industry event, from December 2-3 in Scottsdale, said she is seeing a number of positive signs in the Western market from deal-making to project development The plans call to expand the biotech firm's footprint by at least four new sites Respondents have a positive outlook for the 2025 seniors housing real estate market Picking the right renters insurance can be a headache This guide will help you find the perfect partner for your multifamily properties so you can boost resident participation and lower your risk Are you noticing unexpected shifts in office occupancy and commuter behavior This report reveals how evolving work patterns are challenging CRE brokers and offers crucial Discover a detailed analysis of office visit fluctuations real-world examples to inform strategic decisions and actionable metrics to guide client advising Commercial property teams are navigating changing times where technology plays a crucial role in operations based on insights from 370 industry professionals and opportunities for CRE technology adoption in 2025 / For questions about GlobeSt.com, please call 800-458-1734 (9:00am-5:30pm ET, Monday through Friday, except holidays), or send an email to [email protected] Welcome to IPE Real Assets. This site uses cookies. Read our policy By Razak Musah Baba2024-08-21T11:32:00+01:00 Värde Partners-backed Trimont is expanding its commercial real estate (CRE) loan services by acquiring Wells Fargo’s non-agency third-party US commercial mortgage servicing (CMS) business The acquisition of the largest servicer of CRE securitised debt in the US positions non-bank lender Trimont as the leading loan servicer in the US managing a combined $640bn (€575.5bn) in loans This acquisition enables Trimont to offer comprehensive servicing across all non-bank commercial real estate lending structures which has owned Trimont through its funds since 2015 expected to be finalised in early 2025 Trimont will manage more than $715bn in US and international commercial real estate loans said: “Trimont and Wells Fargo’s commercial mortgage servicing are recognised experts in their respective areas of concentration “The businesses are highly complementary and combining them allows Trimont to provide a unique and comprehensive service offering to the increasingly sophisticated CRE lending market.” chair of Trimont and partner at Värde Partners said: “The addition of Wells Fargo’s commercial mortgage servicing business is accretive to Trimont and will strengthen its market position for years to come “This strategically important transaction positions Trimont to be a key partner to real estate capital providers given its breadth and scale of services.” Source: Pexels EVP and head of Wells Fargo’s commercial real estate business said: “This transaction is consistent with Wells Fargo’s strategy of focusing on businesses that are core to our consumer and corporate clients. “We remain committed to our market-leading commercial real estate business and we will continue to serve our clients with a broad suite of lending advisory and capital markets capabilities while leveraging our franchise to grow our corporate and investment bank.” To read the latest IPE Real Assets magazine click here. Copyright © 1997–2025 IPE International Publishers Limited Site powered by Webvision Cloud Green Street’s global news publications are not provided as an investment advisor nor in the capacity of a fiduciary Our global organization maintains information barriers to ensure the independence of and distinction between our non-regulated and regulated businesses is authorized and regulated by the Financial Conduct Authority (FRN 482269) and a private limited company incorporated in England and Wales with company number 06471304 TrendingCommercial South FloridaAVärde seeks $77M foreclosure against Coral Gables office complex ownerLender alleges Affinius Capital owes mortgage plus interest and fees secured by Columbus Center Värde Partners is foreclosing on the owner of a Coral Gables office complex for allegedly defaulting on a $68.9 million mortgage the amount owed ballooned to $77.4 million according to a foreclosure complaint filed this week in Miami-Dade County Circuit Court The allegedly defaulted loan is secured by Columbus Center a 2.5-acre site with two buildings at 1 Alhambra Plaza It is owned by an affiliate of San Antonio did not respond to voicemails and emails seeking comment a Minneapolis-based global investment firm led by co-CEOs Ilfryn Carstairs and Brad Bauer alleges Affinius defaulted on the note in March by failing to obtain a “rate cap agreement,” the lawsuit states Such agreements protect borrowers from unexpected payment increases from rising floating interest rates that would negatively impact a property’s net operating income rejecting Affinius’ request to restructure the loan and accelerated the maturity date to March 15 Affinius was unable to come up with a $2.4 million payment plus $2.5 million to be placed in a reserve account to cover new accrued interest Affinius allegedly had stopped making monthly payments The loan dates back to the late 20th Century Affinius obtained a $10.6 million loan that financed its purchase of Columbus Center The complex consists of a 14-story mid-rise building and an eight-story low-rise building A Värde affiliate acquired the loan a year later have been involved in a handful of notable foreclosure actions this year In August, a Trimont affiliate sued the owner of One Financial Plaza, a 28-story office tower in Fort Lauderdale, for allegedly defaulting on a $59.2 million mortgage Pennsylvania-based Alliance HP failed to repay the loan when it matured on July 29 after granting the borrower two extensions Trimont acquired the mortgage from a Värde affiliate in 2021 In April, Trimont acquired the Kayak Miami Beach hotel in South Beach for $13.6 million in a deed in lieu of foreclosure sale Trimont paid roughly $260,000 less than the outstanding mortgage that the seller owed Värde which had filed a foreclosure lawsuit last year Trimont sold the 51-key hotel in May for $12.8 million to New York-based Blue Suede Hospitality The $26 billion credit-focused firm Canyon Partners has made its third senior hire this year with the addition of Vӓrde Partners’ Ari Dukas Dukas was named managing director and lead credit product specialist Dukas served as managing director and head of Product Specialists at Vӓrde Partners Join industry leaders who rely on Alternatives Watch’s comprehensive coverage of alternative investments across asset classes © 2019-2024 BMV Digital Inc Customize your consent preferences for Cookie Categories and advertising tracking preferences for Purposes & Features and Vendors below You can give granular consent for each Third Party Vendor and Google Ad Tech Provider Most vendors require explicit consent for personal data processing you have the right to object to their use of legitimate interest Necessary cookies are required to enable the basic features of this site such as providing secure log-in or adjusting your consent preferences These cookies do not store any personally identifiable data Functional cookies help perform certain functionalities like 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Inc Join industry leaders who rely on Alternatives Watch's comprehensive coverage of alternative investments across asset classes. Join the conversation You can save this article by registering for free here. Or sign-in if you have an account as it looks to grow beyond corporate debt investments and into asset-based finance and infrastructure according to a person with knowledge of the matter Subscribe now to read the latest news in your city and across Canada Create an account or sign in to continue with your reading experience Article contentVärde Partners Inc.’s former head of financial services will be joining Blackstone in November as a senior managing director in New York He will focus on asset-based finance investments and will be head of financial services within the recently-formed Blackstone Credit and Insurance who requested anonymity as the matter is private Mamik spent more than a decade at GE Capital Chris Yonan is also set to join Blackstone in October as its head of European infrastructure in London focusing on investments like energy credit funds utilities and infrastructure at Jefferies Financial Group in New York and has worked at Morgan Stanley and Barclays Plc By signing up you consent to receive the above newsletter from Postmedia Network Inc The next issue of Top Stories will soon be in your inbox Interested in more newsletters? Both Mamik and Yonan will be joining BXCI as partners in the infrastructure and asset-based credit group which is led by Rob Horn, Blackstone’s global head of infrastructure and asset-based credit. BXCI’s infrastructure and asset based group has about $75 billion in assets under management and has committed more than $20 billion this year, according to a Blackstone spokesperson. “There is a powerful shift underway as more types of borrowers recognize the benefits of private credit,” said Horn in an emailed statement. “It’s evolved from financing M&A to financing major segments of the real economy.” Blackstone is looking to keep pushing into the investment-grade credit market, which spans from debt backed by consumer loans to financing for data centers and the energy transition. Demand for debt from borrowers in this space could push the private-lending market to hit a $25 trillion mark, Michael Zawadzki, Blackstone Credit and Insurance’s global chief investment officer, said in an interview with Bloomberg Television in June. Blackstone has already made inroads in this market, raising a $7.1 billion fund last year to finance solar companies, electric car parts makers and technology to cut carbon emissions. It has also led debt packages for cloud computing firm CoreWeave Inc., tied to assets including microchips, and has increased its exposure to credit card debt, by working with banks such as Barclays Plc. The push also comes as firms investing in private credit assets ensure tie-ups or purchases of insurers, whose money is fueling the growth of the market. The BXCI division was formed last year after Blackstone consolidated groups that invest in corporate credit and asset-based finance. The business, led by Gilles Dellaert. has about $330 billion of assets under management, with a goal to grow its total credit assets to $1 trillion within a decade. (Updates second to last paragraph. An earlier version of this story corrected the reference to BXCI’s AUM in fifth paragraph and name of unit in first deck headline.) transmission or republication strictly prohibited This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy You can manage saved articles in your account TrendingCommercial South FloridaAVärde Unity Medical partner up for West Palm Gardens office acquisitionLaser and Surgery Center of the Palm Beaches gained just 3.5% in value since last trade in 2015 Värde Partners and Unity Medical Properties are partnering up to acquire a medical office building in Palm Beach Gardens An affiliate of Värde a Minneapolis-based global investment firm California-based medical office real estate investment firm paid $14.5 million for Laser and Surgery Center of the Palm Beaches The joint venture also obtained $8.7 million in seller financing records and real estate database Vizzda show an affiliate of Denver-based Healthpeak Properties paid $14 million in 2015 for the single-story building that sits on 1.9-acres on 3602 Kyoto Gardens Drive That’s only a gain of about 3.5 percent in value in nine years for the 21-year-old building It was also one of the smaller South Florida medical office deals in recent months SIGN UPA former hospital campus sold for $37.7 million in March Orlando-based Foundry Commercial and Greenwich Connecticut-based Wheelock Street Capital acquired a vacant 30.7-acre complex in Boynton Beach from Bethesda Hospital a subsidiary of Baptist Health South Florida Another Boynton Beach deal involved Boca Raton-based Kayne Anderson and Chicago-based Remedy Medical Properties acquiring a pair of two-story medical office buildings. The joint venture paid $20.5 million for the site in February The previous month, New York University paid $33 million for a medical office development site in West Palm Beach Also in April, Värde and David Weekley Homes paid $60 million for 606 home lots in two Phoenix suburbs The joint venture is land banking the assemblages for future David Weekly projects The investment firm is working with an adviser as it solicits interest in Mercury, which was previously known as CreditShop Holdings LLC, said the people, who requested anonymity to discuss confidential information. Värde, which purchased a $700 million collection of medical offices earlier this year, is buying Unity Investment Management to oversee day-to-day management of the properties and support future acquisitions, according to a statement Thursday. Värde is buying the manager from Unity Medical Properties, and plans to pursue more real estate deals in the sector, which includes ambulatory surgical centers, primary-care clinics and specialist facilities such as dentistry or optometry offices. 2024 at 8:00 AM EDTBookmarkSaveAs credit spreads tighten to some of the narrowest levels since 2008 alternative investment firm Värde Partners sees more opportunities in areas including commercial real estate mortgages and Asia Pacific private credit according to an outlook report by the firm on Wednesday investors have priced in relatively rosy economic scenarios despite persistently high interest rates and signs of potential macro weakness leading to tight spread levels and making it harder to find attractive investing opportunities Issues with signing in? Click here Need help signing in? The assets consist of two Spanish hotels and one situated in the UK PERE Seoul Forum PERE Tokyo Forum PERE Europe Forum 10-11 June 2025London Marriott Hotel Grosvenor Square London PERE America Forum PERE Asia Summit View all events > Your email address is already registered with us. Don't have an account? Please check your spam or junk folder just in case Hotels in Spain and UK are owned by joint venture between Santander and Meliá By IPE staff2025-01-09T14:05:00 The Wings is a newly developed office and hotel property Already a registered user or subscriber? Register today PropertyEU has now merged with IPE Real AssetsRegistration will give you access to the PropertyEU archive.If you have a PropertyEU membership find out how to get access the UK’s economic issues threaten to impact real estate lending; US manager Värde Partners completes two significant lending deals indicating the opportunities for non-bank lenders; Close Brothers hires from CBRE as it pushes into student housing and build-to-rent lending; and more in today’s Term Sheet New York City-headquartered investment firm Pretium Partners announced Wednesday that it has hired two new managing directors as its seeks to bolster its real estate debt strategy The firm hired Brendan Bosman, a former senior managing director and head of U.S. housing investing at Minneapolis-based Värde Partners, and Karen Kulvin, a former senior managing director and co-head of the real estate debt platform at Los Angeles-based Kayne Anderson Real Estate Bosman and Kulvin each have decades of experience in real estate finance and “will strengthen Pretium’s investment team as the firm continues to expand its impact in the residential financial ecosystem,” the company said in its announcement Bosman spent more than 15 years at Värde Partners and closed more than $8 billion in transactions across a variety of real estate property types and financing structures. He had a particular focus on residential developers and homebuilders “I am excited to contribute to Pretium’s already impressive track record in homebuilder finance,” Bosman said in a statement “This is a pivotal moment in the market and I look forward to helping Pretium continue its leadership in this space.” Kulvin was with Kayne Anderson for 10 years underwriting and managing more than $10 billion in loans and securities She previously was a founding partner and portfolio manager at Aqua Investment Management “I am thrilled to bring my decades of experience in real estate finance to Pretium as the company scales its efforts in real estate debt and continues to create value for homebuilders investors and communities,” Kulvin said Bosman will help to lead Pretium’s investment activities in homebuilder finance, which have generated $14 billion in originations since the company’s inception in 2012. Kulvin will oversee multifamily housing finance initiatives and work to grow the Pretium platform after it acquired BH Management Services — an owner and operator of 114,000 housing units — in May “We are excited to welcome Brendan and Karen to Pretium as we expand our offerings in residential real estate finance,” President Jonathan Pruzan said coupled with persistent housing shortages in key markets across the U.S. means that real estate debt financing will be essential to increasing housing supply in the years ahead Brendan and Karen’s experience and leadership will be instrumental to Pretium’s efforts in this area.” “The slowdown in lending stemming from disruptions in the regional banking system has created significant consequences for homebuilders and other housing market participants,” said Josh Pristaw “We are helping to fill the void by providing innovative and reliable financing solutions to homebuilders and multifamily developers alike Brendan and Karen’s expertise will help us further scale those offerings.” Pretium has more than $55 billion in assets under managements and invests in real estate assets across nearly 90 markets in the U.S It employs about 7,000 people across its 50 global offices The firm made headlines in February when Bloomberg reported that it had raised $1 billion for a new fund dedicated to built-to-rent (BTR) homes The company said at the time that it had acquired more than 7,500 BTR homes in 11 states Later that month, Pretium announced that it had sold a minority stake in the company to Hunter Point Capital a strategic partnership designed to support Pretium’s long-term growth and website in this browser for the next time I comment Δdocument.getElementById( "ak_js_1" ).setAttribute( "value" Leaders said the internal consolidation will help enhance underwriting capacity and financial backing for transactions in the state Don't have an account? Please Share via...Gift this articleSubscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe the $US447 billion ($721 billion) juggernaut The Carlyle Group and distressed debt investor Varde Partners are preparing to dig into their back pockets for the third time in three years as they pull into the final lap of lender negotiations for a $150 million refinancing SaveLog in or to save articleShareCopy link Gift 5 articles to anyone you choose each month when you subscribe. Follow the topics, people and companies that matter to you. A syndicate of Spanish banks partially replaced the Spanish developer’s bond debt with a floating rate loan earlier this month TrendingResidential San FranciscoAWindy Hill secures $105M loan for Belmont apartment projectMoney from Värde Partners will support lease-up of 250-unit Artisan Crossing A photo illustration of Jon Miller along with a rendering of Windy Hill Property Ventures’ Artisan Crossing apartment complex in Belmont (Getty Hedge fund Värde Partners is adding to its Bay Area investments with $105 million in construction takeout refinancing on Windy Hill Property Ventures’ Artisan Crossing apartment complex in Belmont The floating-rate bridge loan has a three-year initial term with two one-year extension options It will support the lease-up of the recently completed 250-unit multifamily property The deal was led by JLL’s Chris Gandy and Tom Gilliland called the new development at 1325 Old County Road a “rare institutionally scaled Mid-Peninsula multifamily community in the high-demand Silicon Valley housing market,” in a statement Minneapolis-based Värde typically does several deals each year in the Bay Area across a variety of asset types The global alternative investment firm currently manages more than $13 billion in assets across North America Windy Hill began construction on Artisan Crossing in 2021 after getting a $131 million loan originated by Square Mile Capital and in partnership with Bank OZK The Palo Alto-based developer currently owns 10 other apartment complexes SIGN UPLocated a few blocks from the Belmont Caltrain station Artisan Crossing has asking rents that range from $2,900 for a studio to more than $5,000 for a two-bedroom It offers up to 10 weeks free rent on select floor plans conference room with “work pods,” clubhouse The average rent in Belmont is about $2,500 for studios and one-bedrooms and $3,400 for two-bedrooms The median rent across all units types is just over $3,000 an 8 percent increase compared to last year Silicon Valley’s rental market has heated up with the return of in-office work combined with VC firms’ continued investment in AI The multifamily occupancy rate is 95.1 percent and very few new units are coming to market Unit turnover takes an average of 40 days and each available unit attracts 12 prospective renters the most competitive market in the state and sixth most competitive in the country That’s up from 21st place just one year ago Lease renewals are also up 8.4 percent from last year to 54.1 percent French international Dimitri Berge and Gleb Chugunov have both joined Danish side Region Varde’s squad for 2025 Berge appeared for the Outrup club away to Holsted in 2024 but the former FIM Speedway of Nations finalist is set to play a more regular role in the team this year which features German international Norick Blodorn EKSTRALIGA | VACULIK LEADS GORZOW TO DERBY DELIGHT ZMARZLIK LANDS MAXIMUM POINTS IN LANDSHUT AFTER SPEEDWAY GP & SPRINT DOUBLE ZMARZLIK TAKES SPEEDWAY GP WORLD CHAMPIONSHIP LEAD AFTER WINNING LANDSHUT SPRINT RACE BusinessWells Fargo to Sell Most of Its CRE Loan Servicing Business to TrimontBy Hannah Levitt and Scott CarpenterPublished: August 20, 2024 at 9:14AM EDT (Bloomberg) -- Wells Fargo & Co. agreed to sell most of its commercial mortgage servicing business to Trimont LLC, ceding the title of biggest US commercial and multifamily mortgage servicer to the Atlanta-based firm. Trimont will buy Wells Fargo’s non-agency third-party commercial mortgage servicing business, the companies said in separate statements Tuesday. The firms didn’t include terms for the deal, which they expect to complete early next year, but Trimont Chief Executive Officer Bill Sexton said Tuesday his firm will take over servicing for about $475 billion of loans. Trimont said the deal will make it the single largest servicer in the US commercial real estate industry, up from 10th place at the end of last year, according to Mortgage Bankers Association rankings. The transaction accelerates a long-running transfer of loan servicing, which involves tasks such as billing and collections, from the banking sector to nonbanks. Värde Partners has owned Trimont since 2015, and affiliated Värde funds are providing capital to help Trimont complete the transaction, according to Jim Dunbar, a Värde partner and head of real estate lending at the firm. The transaction will roughly triple Trimont’s loans under management to more than $715 billion. “Over the next three years, there’s about $2 trillion of debt coming due, and as those loans come due, the combined platform is positioned well to capture an increased amount of services and provide those services to clients,” Dunbar said in an interview. He added that most of the loans being transferred to Trimont are commercial mortgage backed securities, including real estate collateralized loan obligations. For Wells Fargo, it’s the latest move to narrow its focus under Chief Executive Officer Charlie Scharf. The bank long sought to dominate the real estate lending business on both the commercial and residential side, and the sale announced Tuesday mirrors an effort announced last year to scale back home-loan servicing. “This transaction is consistent with Wells Fargo’s strategy of focusing on businesses that are core to our consumer and corporate clients,” Kara McShane, who oversees the bank’s commercial real estate unit, said in her firm’s statement, adding that the bank remains committed to its “market-leading commercial real estate business.” Wells Fargo shares recovered from an earlier decline following Tuesday’s announcement, and are up almost 15% this year. The fourth-largest US bank serviced and sub-serviced $543 billion in commercial mortgages for others as of June 30 — a figure that included third-party agency and government-sponsored loans it will continue to service — according to a company filing earlier this month. Wells Fargo will also continue to service the commercial-property loans on its balance sheet, according to the statement Tuesday. Earlier in Scharf’s tenure, Wells Fargo sold its asset manager, corporate-trust unit and student-loan book after concluding those operations weren’t consistent with the lender’s strategy. He’s also earmarked some businesses for growth, including investment-banking — an opportunity he said earlier this year is “staring us in the face.” (Updates with context, Wells Fargo shares starting in fourth paragraph.) Twitter feed ©2025 BellMedia All Rights Reserved allowing them to participate in the debt restructuring of the embattled media company Värde – which means “value” in Swedish – has a flagship strategy focused on searching opportunistically for complex situations in less efficient markets where there is an imbalance in capital supply and demand the leading global commercial real estate loan services provider has entered into a definitive agreement to purchase Wells Fargo’s non-agency third-party Commercial Mortgage Servicing business the largest servicer of CRE securitized debt in the U.S positions Trimont as the largest loan servicer managing a combined $640 billion of loans in the United States equivalent to approximately 11% of the U.S A leader in complex non-bank credit servicing Trimont primarily serves non-bank and alternative lenders while CMS specializes in securitized debt products including CMBS conduit “We look forward to welcoming the team from Wells Fargo and working with them to capitalize on our strengths as we continue to deliver superior service and value to the clients of both businesses.” “This transaction is consistent with Wells Fargo’s strategy of focusing on businesses that are core to our consumer and corporate clients,” said Kara McShane, Executive Vice President, and head of Wells Fargo Commercial Real Estate. “We remain committed to our market-leading Commercial Real Estate business, and we will continue to serve our clients with a broad suite of lending, advisory and capital markets capabilities while leveraging our franchise to grow our Corporate and Investment Bank.” The transaction is subject to customary closing conditions and is expected to be finalized in early 2025. Post-closing, Trimont will manage more than $715 billion in U.S. and international commercial real estate loans. J.P. Morgan Securities LLC served as financial advisor with Goldman Sachs & Co. LLC providing additional advisory services while Kirkland & Ellis, Cadwalader, Wickersham & Taft LLP, and Trilegal served as legal advisors to Trimont and Värde Partners. Data-driven, collaborative and focused on commercial real estate, Trimont brings a distinctive mix of intelligent loan analysis, responsive communications, and unmatched administrative capabilities to clients seeking cost-effective solutions at scale. Founded in 1988 and headquartered in Atlanta, Trimont’s team of 400+ employees serves a global client base from offices in Atlanta, Dallas, Kansas City, London, New York and Sydney. The firm currently has USD 240B in loans under management and serves clients with assets in 72 countries. © Copyright 2012 - 2023 | citybiz | All Rights Reserved , opens new tab by Bloomberg News earlier on Thursday citing people with knowledge of the transaction saying the loans were sold at a discount to their face value to Varde.Goldman and Varde declined to comment.Founded in 1993 Varde has invested $95 billion across both public and private credit markets.Varde currently manages over $12 billion in assets with teams in North America and Asia Pacific focused on corporate and traded credit it says on its website.Reporting by Saeed Azhar in New York and Niket Nishant in Bengaluru; Editing by Shinjini Ganguli and Josie Kao Our Standards: The Thomson Reuters Trust Principles., opens new tab , opens new tab Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. , opens new tabScreen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. © 2025 Reuters. All rights reserved German star Norick Blodorn lines up for Danish Speedwayligaen side Region Varde in 2025. Blodorn made a number of appearances for the Outrup club in 2023 and 2024, and he continues to grow his reputation on the world stage after helping Germany to fourth place at the 2024 FIM Speedway of Nations in Manchester – the country’s best performance in a world team championship since 1997. The former German champion, who will also race for Belle Vue in Britain’s Rowe Motor Oil Premiership and Poznan in Poland’s Metalkas 2. Ekstraliga, looks forward to competing in Denmark. He said: "I had a few races for Region Varde in the second half of the season, and I had very good races. I feel that the league brings me a lot, and I can take a lot from riding in Outrup. I felt very good in the team and well managed, so the decision was pretty easy for me after I got the call. I hope to continue achieving good and even better results and to make great memories with the team.” The Financial Express Reliance Power on Wednesday said its subsidiary Rosa Power has prepaid Rs 850 crore of its debt to Singapore-based lender Varde Partners Rosa Power is on track to become debt-free The company aims to settle its remaining debt in the next quarter completing the process before the end of the current financial year which operates a 1,200 MW thermal power plant in Rosa village near Shahjahanpur The strengthening of Rosa Power’s balance sheet along with a recent Rs 1,525-crore preferential issue will support RPower in exploring new business opportunities particularly in the renewable energy sector Reliance Power’s stock hit the upper circuit of 5% on Thursday The proceeds will be used to expand business operations either directly or through investments in its subsidiaries April saw a 3% increase in automobile retail sales in India, reaching 2.28 million units. Festive demand, improved consumer sentiment, and a pause in the global tariff war were key factors. While all segments except commercial vehicles saw growth, cautious consumer behavior and price hikes impacted the market. Photo: Niels Hougaard / MissetDenmark has revealed plans to become the world’s 1st country to tax greenhouse gas (GHG) emissions from livestock Denmark also aims to reduce nitrogen emissions by 13,780 tonnes per year as from 2027 The Danish government claimed the measures will lead to the “largest change of the countryside in 100 years” The measures enjoy broad political support in Denmark Even several opposition parties also support the agreement The ‘Danish package’ includes several heavy measures that will have a significant impact on Denmark’s agriculture farmers will have to pay €16 per tonne of carbon dioxide (CO2) and methane (CH4) emitted from 2030 That amount will increase to €40 per tonne in 2035 ALSO READ: Commission approves Danish aid scheme to support pig welfare The Danish government has also announced making DKK43 billion (just under €6 billion) available to purchase agricultural land a total of 250,000 ha of new forests are to be added 140,000 ha of low-lying land are to no longer be cultivated about 10% of the country will have to be converted into nature and forests It doesn’t come as a surprise that Denmark is launching those plans now the Danish government had already reached an agreement with representatives of the agricultural sector the planning of new forests as well as a GHG tax were already on the agenda A Danish advisory committee concluded in 2022 that taxing farmers is the best and cheapest way to achieve reduction targets The committee then concluded that farmers should feel pressure because voluntary measures will have little effect The new regulations will likely affect dairy and beef farmers – in some calculations producers will have to pay about €130 per cow per year The result is likely that the regulations will lead to more intensive and larger-scale farming ALSO READ: EU pork production stable in 2025 Just like in the Netherlands and in Belgium nitrogen emissions are also an issue – and those get tackled as well those are currently around 50,000 to 55,000 tonnes per ha – this is nitrogen that disappears into surface water Farmers must reduce these emissions once by 13,800 tonnes in 2027 which is considered sufficient to prevent further deterioration of nature Farmers will account for 6,500 tonnes of this reduction which can be achieved with various arable farming techniques The remaining 7,300 tonnes of nitrogen will be reduced by taking agricultural land out of production for example by allowing groundwater levels to be increased a leading global alternative investment firm announced it has raised nearly $1.5 billion for asset-based lending opportunities through The Värde Asset Lending Fund II and related accounts and co-investments The firm received support from a global base of institutional investors Through its established lending platforms and relationships Värde originates loans and provides financing solutions for consumers The firm invests in lending strategies across a range of industries “We are grateful for the strong support from new and longtime investors Unfolding in front of us is one of the most compelling credit investment environments since the Global Financial Crisis and we look forward to building on our track record of delivering attractive risk-adjusted returns for our investors The surge in demand for non-bank financing – an acceleration of a more than decade-long trend – underscores the need for private credit and magnifies already significant lending opportunities,” said Brad Bauer Värde’s approach to sourcing and structuring investments with strong downside protection is honed by 30 years of experience originating credit backed by a range of assets “The growing demand for asset-based lending solutions and strategies aligns with our strengths and the global platform we have built over many years – a platform that provides insight into the credit and financing needs of millions of consumers and tens of thousands of businesses Värde brings an experienced and well-connected team to the table as we structure customized solutions for strong borrowers in underserved parts of the market,” said Aneek Mamik Partner & Global Head of Financial Services & Diversified Private Credit “There is a tremendous opportunity for CRE lending as the market addresses a significant amount of maturities against a backdrop of higher interest rates and reduced bank balance sheets We believe this attractive supply/demand dynamic for lenders combined with our platform which has originated $6.5 billion of CRE loans since 2017 and integrates our longstanding partnership with a leading loan service provider positions us exceptionally well in this market,” said Jim Dunbar discusses these opportunities in more detail Värde Partners Communications and Public Affairs communications@varde.com Connecting decision makers to a dynamic network of information Bloomberg quickly and accurately delivers business and financial information “This shift leads us to apply a private credit approach to create transactions in the traded credit markets club new issuance and private securitizations,” according to an outlook report from co-Chief Investment Officers Ilfryn Carstairs Värde has about $13 billion in assets under management This website is using a security service to protect itself from online attacks The action you just performed triggered the security solution There are several actions that could trigger this block including submitting a certain word or phrase You can email the site owner to let them know you were blocked Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page Metro Rail Conference has acquired 1.05 acres of industrial land in Sri City marking a key milestone in its expansion strategy in India is located adjacent to the RED Star Polymers facility and will support scaling up the company’s manufacturing operations.This acquisition closely follows REHAU’s majority stake purchase (51 per cent) in RED Star Polymers Pvt Ltd reinforcing its long-term commitment to the Indian market The site offers strategic advantages in proximity a subsidiary of BSH Hausgeräte GmbH and global leader in premium home appliances has launched its first exclusive Bosch and Siemens brand store in Kolkata Located in the upscale Dhakuria neighbourhood the store signifies BSH’s strategic push in East India a region where it has recorded a 26 per cent CAGR between 2019 and 2025.Spanning 1,450 sq ft for Bosch and 850 sq ft for Siemens the new showroom is operated in partnership with Multi-Channel Electronics It offers customers a hands-on experience of BSH’s latest innovations is India’s only termiticide validated by CBRI and GreenPro This non-repellent soil treatment eliminates entire termite colonies effectively Premise ensures long-lasting protection with a proven safety and performance profile.Contact: Envu IndiaWebsite: www.envu.com. 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