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) specializes in the asset management of complex performing and non-performing credit on behalf of commercial real estate lenders and investors around the world. Trimont also provides loan servicing, facility and security agency, cash management, fund and asset level accounting, underwriting, due diligence and leading technologies such as TriviewTM, that empower clients to better evaluate and manage risk and return.
Over its 30-year history Trimont has managed more than $550 Billion of debt and equity investments into commercial real estate, comprising more than 20,000 transactions in 64 countries. Trimont is highly rated by Standard & Poor's, Fitch and Kroll and serves clients around the world from major offices in Amsterdam, Atlanta, Dallas, Kansas City, London, Los Angeles, New York and Sydney.