Cohen Financial, a division of SunTrust Bank and a national real estate capital services firm, announced today that its Investor Services Group (ISG) has hired Robert E. Records as Senior Asset Manager to lead ISG’s Special Servicing practice from Cohen Financial’s Dallas, Texas office. Records will work closely with Head of ISG Tim Mazzetti and Head of ISG’s Asset Management team Ted Wright to expand ISG’s reach to financial institutions, private equity firms and investment banks across the country. Records will also be integrally involved in further developing ISG’s CMBS Surveillance program into a highly proactive environment that will enable ISG’s clients to preemptively address potential defaults, in order to minimize losses and enhance recoveries.
Records joins Cohen Financial from KeyBank Real Estate Capital where he was Vice President and Senior Asset Manager–Team Leader in charge of supervising a group of special servicing asset managers involved in the workout of large balance loans held in CMBS securitized trusts. Additionally, he participated in the workout of an array of assets that included FDIC loans, SBA loans and commitments, and bankruptcy lease rejection and administrative claims. In prior positions, Records worked with Berkadia/GMAC Commercial Mortgage and Nomura Asset Capital/Bank of New York where he led special servicing asset management teams. In his management roles, Records managed teams that focused on CMBS assets and participated in all aspects of the asset management process including the foundational development of Master Servicing loan operations policies, rating agency presentations, and pooling & servicing agreement negotiations. He was also responsible for managing large client relationships at these firms.
“Rob is highly regarded in our industry and will be a critical driver of Cohen Financial’s Special Servicing growth for years to come,” said Mazzetti. “Less than a year ago, we implemented a strategic, long-term business plan to grow the special servicing of CMBS transactions and have made significant inroads as a true independent, third-party special servicer for CMBS loans since establishing this goal. Hiring Rob is another important milestone of our strategy.”
In 2017, Cohen Financial’s Investor Services Group was named to four CMBS transactions on behalf of several of its institutional investor clients that are actively investing in this market space. These special servicing transactions include the $185 million Del Amo Fashion Center Trust, 2017-AMO collateralized by the Del Amo Fashion Center located in Torrance, California that closed in July; the $240 million Citigroup Commercial Mortgage Trust 2017-1500 collateralized by a 43-story office and retail property located in Philadelphia that closed in August; the $200 million GS Mortgage Securities Corporation Trust 2017-STAY collateralized by 40 extended-stay hotels across 14 states that also closed in August; the $542.76 million GS Mortgage Securities 2014-GSFL, a legacy loan originally collateralized by 59 office, industrial, retail and hospitality properties across 17 states and currently collateralized by 52 industrial, retail and hospitality properties located across 15 states. ISG also was named Primary and Special Servicer of the $564.89 million Prime Finance's PFP 2017-3 CLO collateralized by 35 industrial, mixed-use, multifamily, office and retail properties located across 13 states that closed in March.
Source: CityBizList: Dallas