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New York & Tri-State  + Midtown New York  + Finance  |  August 20, 2024
Paul Bubny
By: Paul Bubny

SitusAMC Partners with Backshop Owner CMBS.com

SitusAMC has forged a strategic partnership with CMBS.com, the owner of commercial real estate loan origination, management and servicing software platform Backshop. As part of the partnership, SitusAMC will transition ownership of CLOSER, its CRE origination system, to CMBS.com, provide growth capital and obtain a minority ownership position in CMBS.com. Additionally, New York-based SitusAMC will utilize the Backshop platform to support its U.S. asset management offering.

Terms were not disclosed. “This partnership, along with the planned efforts to integrate the best of both platforms, will establish a new standard in CRE software, creating a powerful platform to support CRE lending and management activities,” said Michael Franco, SitusAMC CEO. “We are excited about the value this will bring to market and look forward to supporting future growth.” 

Founded in 2000, CMBS.com is a software company that provides commercial real estate valuation, pipeline, loan origination, asset management, and securitization management software.

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Inside The Story

SitusAMC's Franco

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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