Fortress To Purchase CW Financial Services

ss Investment Group LLC announced late last week that affiliates of certain Fortress-managed funds have agreed to acquire CW Financial Services (CWCapital), a provider of servicing, special servicing, investment management, advisory and origination capabilities with a specific focus on commercial and multifamily real estate debt. Fortress has agreed to acquire CWCapital from majority shareholder Otera US Holding Inc. Terms of the transaction were not disclosed. Closing of the transaction is expected during the third quarter, subject to regulatory approvals and closing conditions. Beekman Advisors Inc. served as adviser to CWCapital. As of April 30, CWCapital was the investment manager, servicer or special servicer for a portfolio of $183.6 billion of loans and securities. With over $160 billion of named special servicing assignments, CWCapital is the second-largest special servicer in the U.S. The company services over $11.5 billion of multifamily and commercial loans. SOURCE: [link=http://phx.corporate-ir.net/phoenix.zhtml?c=205346&p=irol-newsArticle&ID=1443546&highlight=]Fortress Investment Group

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