As part of the strategic business development of the German Crown servicing arm, Crown Westfalen Credit Services GmbH (CWCS) has integrated a team of four specialists in the field of commercial mortgage servicing from the J.P. Morgan subisidiary, Whiteshire Debt Solutions GmbH.
This was reported by Andreas Flechtner, MD of CWCS:
“This is an integral step in broadening CWCS’ portfolio and providing leading servicing in all relevant mortgage asset classes. With this move CWCS has become one of very few independent servicers on the German market with an established track record covering all aspects of mortgage servicing.
"The new colleagues in Frankfurt are highly specialised, greatly experienced and will provide invaluable support for our further plans.”
The new team will continue to manage an array of J.P. Morgan servicing mandates in Frankfurt.
Elke Wagner, who joins as Chief Operating Officer of CWCS, said:
"We are excited to join the CWCS team and their partner and main investor Forum Partners. Our experience and know-how in servicing large commercial real estate assets complements CWCS' skills on the residential and small commercial side.
"We expect the combination to play a major role in the servicing business in Germany."
Furthermore, Crown has been selected as a preferred servicing partner by J.P. Morgan for future SPL and NPL portfolio acquisitions in Germany.
