Hatfield Philips Provides Mid-Year Update
- Advises on 15 NPL deals totaling $26.7 billion -
- Adds $4.8 billion to loan servicing book -
- Expands debt advisory and transaction management team -
LONDON, July 13, 2015 /PRNewswire/ -- Hatfield Philips International ("HPI") and LNR Europe (collectively, the "Company"), which serve as a leading NPL and debt advisory firm with best-in-class loan servicing capabilities, today provided an update on its business operations in the first half of 2015.
Through the first six months of the year, the Company provided due diligence and advisory services on 15 NPL deals totaling $26.7 billion. The deals are secured by 26,013 assets and 26,294 loans across 20 European jurisdictions. For the balance of 2015 and beyond, the Company anticipates its NPL business will continue to be a significant driver of top-line revenue growth as banks continue to delever their balance sheets. The Company also co-invested in an NPL deal totaling $3.8 million with a high profile private investment firm.
"We are incredibly pleased with the success of our NPL platform to date, having advised on 45 percent of all European NPL transactions year-to-date based on unpaid principal balance, and we face an excellent runway for sustained growth as European bank deleveraging continues," said Wilhelm Hammel, Head of NPL Advisory at HPI/LNR Europe. "Our NPL team is now 30 strong, and we will onboard additional resources as needed to meet the demands of our new and existing clients and the robust volume of NPL portfolios coming to market."
In addition to strong NPL activity, the Company added $4.8 billion to its primary and special servicing loan book since December 31, 2014, bringing the Company's assets under management to $24.1 billion. The Company also expanded its debt advisory and transaction management team by adding three highly experienced real estate finance professionals.
Blair Lewis, Chief Executive Officer of HPI/LNR Europe, commented, "The momentum we are experiencing with our NPL business is very impressive, and a testament to Wilhelm and his team's hard work and commitment to ensuring each phase of its growth is a success. Our NPL platform has proven valuable in driving incremental revenue as well as new loan servicing mandates, reflected in the $4.8 billion we added to our loan servicing book in the first half of 2015. Looking ahead, and as we continue to scale each of our business lines, we are in a prime position to assume new business opportunities in other jurisdictions and further extend our best-in-class services across Europe's largest commercial real estate markets."
As previously announced, the Company established Hatfield Spain, S.L., a wholly-owned subsidiary located in Madrid's central business district. Hatfield Spain was formed to address increasing investor demand for the Company's NPL, debt advisory and loan servicing solutions. Currently, Hatfield Spain is being overseen by Carlos Quiroga and Federico Esnarrizaga, and the Company plans to expand Hatfield Spain's team of NPL, debt advisory and loan servicing specialists during the remainder of 2015.
About Hatfield Philips International Ltd.
Hatfield Philips International ("HPI"), together with LNR Europe, is a leading NPL and debt advisory firm with best-in-class loan servicing capabilities. From NPL underwriting to co-investing to helping lenders execute on debt strategies, HPI is uniquely positioned to deliver multiple layers of value to a wide range of debt market participants. HPI accomplishes this by leveraging a highly seasoned team of real estate finance, workout, debt servicing, and client service specialists. Founded in 1997 on the principles of trust, integrity and providing the highest levels of customer service, HPI has the experience and capabilities to partner with clients to achieve their business and investment objectives. HPI is a subsidiary of LNR Property, a United States-based real estate investment, finance, management and development firm, which was acquired by Starwood Property Trust in April 2013. For more information please visit us at http://www.hatfieldphilips.com/.
Investor Relations:
Zachary Tanenbaum
Starwood Property Trust
Phone: +1-203-422-7788
ztanenbaum@starwood.com
Media Relations:
Jason Chudoba
ICR, Inc.
Phone: +1-646-277-1249
Jason.Chudoba@icrinc.com
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