KBRECKlamath Basin Research & Extension Center (Oregon State University)
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As of March 31, 2017, KBREC was primary servicer for 17,688 loans with an unpaid principal balance (UPB) of $153.
Today, KBREC is organized around three client segments: Healthcare, Income Property Group and Institutional.
According to KBREC, in 2010, KeyBank was ranked fourth in the overall league table as lead arranger for REIT syndicated bank debt, where it led on 17 U.
In addition to the client segments, KBREC also has two of what it calls product groups--commercial mortgage banking and third party loan servicing and asset management.
The irony of it all is, with KBREC finally expanding again after three straight years of contraction, it's servicing that has, in some regards, started to retrench.
The biggest challenge for KBREC, as it is for other major servicers, is a combination of maturing portfolios and a lack of origination in CMBS.
Back in 2007, KBREC consisted of four client segments: Institutional, Income Property Group, Healthcare Financing and Homebuilding.
In 2007, KBREC totaled 1,100 employees in 36 offices around the United States and assets were around $14 billion, says Burke.
In addition, Fitch withdraws KBREC construction loan servicer rating as follows:
As of the same date, KBREC was named master servicer on 105 CMBS transactions, overseeing 27 primary servicers who serviced 1,211 loans totaling $11.
As of the same date, KBREC was named master servicer on 68 CMBS transactions, overseeing 38 primary servicers who serviced 1,819 loans totaling $8.
It is Fitch's understanding, based on conversations with senior management at both KBREC and ORIX that the current ORIX servicing employees will continue to service the ORIX portfolio of CMBS transactions, including the 35 transactions Fitch rates, until the servicing unit is fully integrated with KBREC.