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3650 REIT Receives Special Servicer Rating From Fitch

January 13, 2020 GMT

MIAMI--(BUSINESS WIRE)--Jan 13, 2020--

3650 REIT (“3650” or the “Company”), a nationwide commercial real estate lender originating and servicing portfolio loans to relationship borrowers, has received a “CSS3+” special servicer rating from Fitch Ratings (“Fitch”) of its loan servicing affiliate, 3650 REIT Loan Servicing LLC. The Fitch rating action notice cites the extensive experience of the 3650 team, its technology-enhanced servicing platform, and thorough policies & procedures as leading to the prestigious rating.

In its report, Fitch also highlights the critical roles loan servicing and relationship management play in 3650’s portfolio lending business stating, “servicing operations performed by 3650 provide integral support to affiliate loan originations and support the parent company’s efforts to improve the borrower experience by maintaining responsibility for material servicing decisions.”

3650 REIT Co-Founder and Managing Partner Justin Kennedy said, “The core differentiation of our lending approach is the priority placed on open communication and efficient asset management decisions for our borrowers. These are made possible by the depth of our team’s experience and the effectiveness of our platform processes and technology. We could not be more pleased that Fitch recognized these strengths and our unique approach to managing borrower relationships in assigning their rating.”

3650 REIT Co-Founder and Managing Partner Toby Cobb commented, “This distinction from Fitch further solidifies our commitment to providing the improved servicing communication and effective asset management borrowers have been demanding for more than a decade. We built our team, our process and our systems to better communicate and responsively address any asset management decision, from loan origination to pay-off. We are extremely pleased that Fitch highlighted the strength our platform and unique lending approach that have proven valuable in the marketplace and continue to accelerate momentum we’ve seen with borrowers over the past year.”

By consolidating all loan asset management functions under one roof, 3650 is able to act as a responsive and responsible counterparty for its borrowers, providing them with a better overall servicing experience by staying involved throughout the servicing process; and, by being responsible for the material credit decisions. By retaining control over the entire servicing process throughout the lifecycle of a loan, all activities are performed efficiently, responsively and reliably, decreasing the risk of loan defaults. The Company currently does not have any defaulted loans in its portfolio.

About 3650 REIT
3650 (pronounced “Thirty-Six Fifty”) REIT is a nationwide commercial real estate lender originating and servicing portfolio loans to relationship borrowers. 3650 REIT’s highly differentiated lending process, national scale and vertically integrated platform enable it to deliver tailored financing solutions, high-touch service and reliable, customer-focused outcomes. Co-Founders and Managing Partners Toby Cobb, Justin Kennedy and Jonathan Roth have played leading roles in the evolution of the CRE debt markets with track records of success across CRE lending, mortgage banking, capital markets, loan servicing and distressed credit management. Headquartered in Miami, Florida with offices in New York, Los Angeles, Chicago, Dallas, and Nashville, 3650 REIT is well positioned to lend on properties located throughout the country. For more information, visit: www.3650REIT.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200113005091/en/


Greg Michaels, ICR for 3650 REIT

Gregory.Michaels@icrinc.com| 646-677-1836




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