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Situs to Merge with American Mortgage
Situs Group Holdings Corp. and American Mortgage Consultants Inc. have entered into a definitive agreement to merge the two firms. To be known as SitusAMC, the combined firm will have more than $175 billion of commercial assets under management globally and provide fair value assessment on more than $290 billion of commercial real estate assets quarterly.
On the residential side, the firm will cover approximately 60% of the secondary market private label securitization transactions. The combined firm will employ more than 3,300 team members in 27 markets across the U.S., Europe and India.
“The idea of matching two companies that can provide both residential and commercial debt life cycle support had not been done in any scale, and AMC was a unique complement to Situs, which allowed this vision to come together,” said Situs CEO Steve Powel, who will serve as executive chairman of SitusAMC.
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