Hatfield Philips International, Now Part of the Situs Group, Wins Inaugural PIE Debt Servicer of the Year Award
Hatfield Philips International (HPI), now part of Situs Group, the leading consultant to the real estate financial services industry, won the inaugural Property Debt Servicer of the Year category at the Europe Property Finance Awards from Property Investor Europe. Winners were announced at a dinner and presentation ceremony in Frankfurt on Tuesday, November 22.
The Property Investor Europe Awards recognize firms that demonstrate exceptional performance, customer satisfaction and innovation. HPI/Situs stood out as having served close to 300 clients on over 1,000 loans with in excess of 37,000 properties spread over 21 jurisdictions and all commercial real estate asset classes, totaling a track record of €86 billion since inception. Over the past 12 months alone, HPI/Situs has won approximately €6.3 billion in new primary servicing mandates, bringing the total assets under management in its loan servicing book to approximately €14.7 billion in addition to the wider Situs Group’s €30 billion. Altogether, the current 461 loans in primary servicing have a UPB of approximately €10.6 billion and are located across the vast majority of European jurisdictions including the UK, Ireland, Spain, Germany, Sweden and Italy.
Of special note was the fact that, reflecting the high quality of its work, HPI/Situs managed to retain the servicing mandates on four loans that were recently refinanced which would normally move to another servicer associated with the new lender. These loans carry a UPB of approximately €610 million with 560 properties attached. Further, HPI/Situs was appointed agent on Blackstone’s reported €950 million purchase of Blanchardstown Centre, one of Ireland’s leading retail and leisure destinations.
“Recognition as the leading Debt Servicer by Property Investor Europe is validation of our business model that is predicated on an extensive breadth of solutions, thoughtful expansion and the highest client service quality standards,” noted Situs Group CEO Steve Powel. “There are many excellent firms in this space, several of whom were at this event. To receive this award is a tremendous honor and demonstrates the Situs focus on quality, comprehensive service and rapid execution is what clients expect and what Situs delivers.”
Situs is the preeminent advisor to clients around the globe trusted to evaluate, optimize and manage critical assets and securities, from commercial and residential real estate, to small and medium enterprise and consumer lending. Since 1985, Situs has set the standard in financial services for service, quality and execution. Based in Houston, TX, Situs has offices across the US, Europe and Asia and has been involved in more than $1 Trillion of real estate debt and equity deals. A rated servicer with Moody’s, Fitch and Morningstar, Situs has more than $160 billion of assets under management and is ranked a top 20 servicer in multiple categories by the Mortgage Bankers Association. In 2016, Situs received a second consecutive “Advisor of the Year” award by Real Estate Finance & Investment magazine, and the “Capital Advisor Firm of the Year” award by Property Investor Europe.
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