News: Finance

CWCapital Investments named collateral manager of RFC CDO 2007-1

CWCapital Investments LLC (CWCI), a subsidiary of CW Financial Services and a leading, full service commercial real estate investment manager and advisor was appointed by controlling class MBIA as replacement collateral manager for RFC CDO 2007-1 Ltd/LLC. RFC CDO 2007-1 is an approximately $1 billion revolving CRE CDO invested as follows: commercial mortgage whole loans and A notes (54%), CMBS (21%), B-Notes (12%), Mezzanine loans (12%) and CRE CDOs (1%). The addition of RFC CDO 2007-1 increases CWCI's assets under management, as collateral manager or disposition consultant, to $12 billion. With this appointment, CWCI currently manages or serves as disposition consultant for 13 CRE CDO and re-REMIC transactions. "We have made several key hires over the past year aimed at strengthening our expertise in handling various investment vehicles," said Charles Spetka, CEO for CW Financial Services. Spetka indicated that the firm received the appointment based on the capabilities of its team, including solid CRE CDO managerial experience. These strengths were reinforced by 2009 ratings increases by both Fitch Ratings and Standard & Poor's (S&P). Fitch Ratings increased the firm's Special Servicer rating from CSS1- to CSS1, while Primary Servicer and Master Servicer ratings were affirmed at CPS2+ and CMS3+ respectively. In a similar move S&P granted the firm a Special Servicer ranking increase from Above Average to Strong, a Primary Servicer ranking increase from to Above Average to Strong, and affirmed the firm's Master Servicer ranking as Strong. "The combined depth of intellectual resources, experience in managing structured transactions, and expertise of our Risk Management platform - offering valuation, portfolio optimization and credit risk management solutions- has our group uniquely positioned to take on tasks such as this CDO management assignment, and to become the leading service provider to the commercial real estate capital markets," said Spetka. CWCapital Investments (CWCI) is a full service real estate investment advisor focusing on the investment and management of a diverse range of sophisticated real estate debt products including CMBS, CDOs, Mezzanine Debt, B Notes and Structured Loans. A member of the CW Financial Services (CWFS) vertically integrated family of companies, which also includes CWCapital Asset Management and CWCapital, CWCI acts as collateral manager or disposition consultant for over $12 billion in assets, representing underlying real estate values approximating $200 billion. CWCI is also able to offer a range of independent client advisory services, including credit risk management and global and regional economic and real estate market research and consulting. CWFS employs approximately 320 employees located in 12 offices nationwide. For more information visit www.cwcapital.com. Otéra Capital, a Montreal-based mortgage lender, holds a majority interest in CWFS. Otéra Capital offers a wide array of commercial real estate debt services from origination and underwriting to asset management, along with a sophisticated range of products extending from conventional mortgages to structured products. Otéra is active in Canada, the United States and Europe and is a subsidiary of the Caisse de dépôt et placement du Québec, one of the leading institutional fund managers in Canada and the United States. For more information visit www.oteracapital.com
Tags: Finance
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