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17 May 2001
Lend Lease Real Estate Investments Selected to Primary Service US$120 Million Loan for Nomura
New York, NY – May 17, 2001 – Lend Lease Real Estate Investments, Inc. has been selected by Nomura Capital Investment Co., Ltd. as primary servicer for a US$120 million loan. The loan is secured by eleven office and residential properties located in Japan.
The loan will be serviced through a cooperative effort between Lend Lease Japan and CapMark Services, Lend Lease’s commercial mortgage subsidiary. The arrangement takes advantage of the company’s global presence and integrated real estate services. Lend Lease Japan, a leading asset management company, will oversee the effort through their local office in Tokyo. CapMark Services, one of the United States’ largest third-party commercial mortgage servicers, will provide cash management, technological systems and servicing expertise.
It is anticipated that the loan will be securitized and that Lend Lease will ultimately master service the securitization.
Daniel B. Kirby, President of CapMark Services said, “We are excited to be undertaking this new servicing assignment. Lend Lease’s local presence and market expertise in Japan coupled with CapMark’s expertise, provides our client with an integrated solution for their servicing needs.”
Lend Lease Real Estate Investments has $35 billion in assets under management in the U.S. as well as $8.7 billion in assets under resolution. Its clients include pension funds, financial companies and other institutional investors as well as high net worth individuals and mutual fund investors.
CapMark Services, a subsidiary of Lend Lease Real Estate Investments, has a servicing portfolio of approximately 7,500 loans representing $47 billion. In total, Lend Lease Real Estate Investments services some $59 billion of commercial real estate loans. CapMark’s servicing experience ranges from investor portfolios to securitized pools to complex servicing assignments. The company’s clients are drawn from both the public and private sectors, including major investment banks, federal agencies, commercial banks, pension funds, life insurance companies and other private investors.
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