ACORE CAPITAL’s Commercial Primary and Special Servicer Ratings Upgraded by Fitch
15 Agosto 2024 - 8:00AM
Business Wire
ACORE CAPITAL, LP, one of the leading U.S. commercial real
estate investment managers, today announced that Fitch Ratings
(“Fitch”) upgraded its Primary rating to CPS3+ from CPS3 and its
Special Servicer rating from CSS3+ to CSS2-.
With both ratings being assigned a Stable Rating Outlook, Fitch
notes the upgrades reflect various factors including increased
management and staff allocations to servicing, additional
demonstrated servicing performance, continuous technology
enhancements, and significant performing loan oversight. Fitch also
attributes internalization of property inspections, the creation of
a dedicated real estate owned (REO) team, and proactive engagement
with borrowers to mitigate defaults as reasons for the
upgrades.
In its Ratings Action Commentary, Fitch highlights how these
ratings reflect the crucial role primary and special servicing play
in supporting ACORE CAPITAL’s investment management platform and
experienced asset management team as well as the firm’s financial
condition and governance infrastructure, which includes
comprehensive policies and procedures. The report also credits
ACORE CAPITAL for its focus on compliance and the comprehensive and
timely nature of its business plans.
“These important upgrades from a premier, global ratings agency
like Fitch further distinguish ACORE CAPITAL’s status as a
preeminent commercial real estate investment manager,” said Warren
de Haan, Chief Executive Officer of ACORE CAPITAL. “Global
institutional investors and borrowers alike continue to place their
trust in us because of our expertise, infrastructure and unwavering
commitment to industry best practices.”
To access Fitch’s Ratings Action Commentary, please click
here.
About ACORE CAPITAL
ACORE CAPITAL, LP is one of the leading U.S. commercial real
estate investment managers with approximately $19 billion of assets
under management. With offices in New York, Los Angeles, Miami, San
Francisco and Dallas, ACORE CAPITAL originates, acquires and
manages first mortgages, B-notes, mezzanine debt and preferred
equity. ACORE CAPITAL’s success has been fueled by its
long-standing industry relationships and access to a consistent
pipeline of origination opportunities. For more information, please
visit WWW.ACORECAPITAL.COM.
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