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SitusAMC Acquires Cohen’s Loan Servicing Platform
SitusAMC Holdings Corp. has acquired the third-party loan servicing and asset management platform of Cohen Financial, a division of Truist Financial Corporation. Financial terms weren’t disclosed.
The acquisition, which includes Cohen’s servicing and asset management clients, expands SitusAMC’s U.S. primary servicing, asset management and special servicing portfolio to approximately 10,000 loans representing more than $130 billion in total unpaid principal balances.
SitusAMC will integrate the Cohen servicing and asset management platform, 120-plus employees and brand into its servicing & asset management group.
Michael Franco, SitusAMC CEO, said, “Cohen was a natural fit for us given the relationship between our existing SitusAMC Servicing & Asset Management team and the Cohen clients.”
Truist will retain Cohen’s debt advisory & placement platform, which it will migrate under the Grandbridge brand. Truist will remain a key banking partner for SitusAMC and its servicing clients.
Pictured: Situs’ Manhattan offices at 150 E. 52nd St.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Sale/Acquisition
