KeyBank adds to servicing platform with Berkadia and BAML deals

KeyBank is closing the second of two deals that will make it the third largest CMBS servicer. Globe St reports:

has arranged to buy Bank of America N.A.’s $110.5-billion CMBS servicing portfolio, along with a CMBS special servicing portfolio of about $14 billion. Additionally, the firm entered into a long-term sub-servicing agreement with Berkadia Commercial Mortgage LLC to buy up its CMBS special servicing business. If the deals go through, KeyBank will have a $205-billion servicing portfolio, becoming the third largest named servicer of commercial/multifamily loans in the US. On a pro forma basis, upon closing it will be named special servicer on approximately $47 billion of CMBS, making KeyBank the fifth largest CMBS special servicer

H/T CoS 

Mazzei goes to Ladder

In case you don't know where you stand in the food chain, Mazzei got his own article when he left BAML that also includes a brief mention of McNiff, a few other people are named in a random blog and a Bloomberg article a week ago, and the rest of you didn't even get honorable mention (you're in good company though.).

Might I recommend you touch base with Bristol Consulting in your job search. This is not a paid advertisement, they're just good at what they do.

Brookfield buys out Four World Financial Center

Brookfield bought out the remaining 49% interest it did not already control of World Financial Center at approximately $270 psf, and simultaneously agreed to a 767k sf lease (40% of NRA) with BAML.