Trimont Real Estate Advisors, an Atlanta-based asset management, servicing, due diligence, and advisory company, recently completed a reorganization that it hopes will help it to garner market share at a time when commercial real estate players are turning toward outsourcing these services. As part of this, the firm has streamlined its product offerings and is heightening its focus on construction loan administration and technology-related services, said Brian Ward, CEO.
The firm’s inception came with the fall of Lehman Brothers, working as the firm’s captive asset management and due diligence arm. “We went from a single to multiple client business,” Ward said. Since coming on as CEO in January, Ward has worked to streamline the 24 separate services that Trimont provides into six buckets. “While our competitors are trying to see the next shiny thing, we are trying to be more focused and provide high-touch service,” he added.
The firm has more than $99bn of asset under management and its six core groups include special asset management, primary asset management, core servicing, construction administration, bond administration, and due diligence. “We can provide better economies of scale by offering asset management and due diligence outside of New York and we think it is a really compelling story to outsource the types of services that we provide,” Ward said.
A key area of growth will be expanding its construction administration book. “We are seeing a material increase in this part of our business at a time when banks are pulling back from the space. Many of our clients are private equity or sovereign wealth funds and as you are seeing an increase in regulations from Dodd-Frank and Basle III, there is more of a need for this service,” Ward said. “We will do everything except for putting on a hardhat – we’ll be offering covenant compliance, making sure that developers are doing what they say they will, and making sure there are adequate funds to complete a project.”
Although Trimont was already planning to increase its European business, the potential impact of Brexit will increase the urgency of its work in the U.K. and Europe. The firm has teams in London and Amsterdam. “As you see more U.S. investors going to Europe, we are uniquely suited to support our clients there,” Ward said.
About Trimont Real Estate Advisors
Trimont Real Estate Advisors (trimontrea.com) is a real estate financial services provider with over $110 billion of client assets under management, providing services to commercial lenders and investors since 1988. Trimont is the leading provider of asset management, servicing, due diligence and advisory solutions to commercial real estate clients around the world. The firm has approximately 230 employees among six offices in Atlanta, Dallas, Los Angeles, New York, London and Amsterdam. From these offices, Trimont has managed approximately $225 billion of invested capital for clients on more than 17,500 assets with $500 billion of property value. Trimont has provided services to its clients in 61 countries.
Trimont is a highly rated primary, special, and construction servicer, with particular expertise in repositioning and development deals. Trimont is rated by Standard & Poor's as a Commercial Mortgage Special Servicer (Strong) a Construction Loan Servicer (Strong), and Commercial Primary Servicer (Above Average). It is rated by Fitch as a Primary Servicer (CPS2+) and a Special Servicer (CSS2), and by Kroll Bond Ratings, Inc.