Summer Street Advisors, LLC plays key financial assessment role for Ranieri Real Estate Partners LP and WL Ross & Co. LLC in their expected acquisition of Deutsche Bank Berkshire Mortgage, Inc.
The deal is expected to transfer a nationwide, multi-family loan origination and servicing company to Ranieri Real Estate Partners LP and WL Ross & Co. LLC
Westport, CT (October 17, 2011) – Summer Street Advisors LLC (“SSA”), a multi-faceted, commercial real estate advisory services firm, was engaged by Ranieri Real Estate Partners LP (“Ranieri”) and WL Ross & Co. LLC (“WL Ross”) to perform credit risk assessment in connection with their recent agreement to acquire Deutsche Bank Berkshire Mortgage Inc. (“DBBM”).
Summer Street Advisors, LLC provided Ranieri / WL Ross with a comprehensive review of DBBM’s servicing portfolio, including risk assessment, property/loan valuations, loan review, underwriting, and site inspections, as well as property management/expense/credit analyses. The senior management team of SSA engaged in every aspect of the portfolio review process, including initial discovery procedures, interpretation of results and final recommendations.
“SSA was retained early in the transaction process while the initial deal plans were taking shape. This presented our team with the unique opportunity to play an on-going integral role in the Ranieri / WL Ross acquisition of a company that services one of the largest multi-family loan portfolios in the nation,” said Jack Mullen, founder and Managing Director of Summer Street Advisors, LLC. “We expect to see continued volatility in the market place in which our strategic advisory services will be valued by our clients.”
About Summer Street Advisors, LLC
Summer Street Advisors LLC (SSA) is a commercial real estate advisory services firm founded by Risk Management alumni of GE Capital Real Estate. SSA offers a rigorous Risk Management philosophy and approach in providing strategic advisory services to loan sellers, B piece buyers, distressed mortgage investors, servicers and banks across all commercial real estate assets. The SSA team has over 100 years combined CRE experience and possesses diverse institutional and entrepreneurial backgrounds, including valuation, underwriting and credit analysis, mergers and acquisitions, risk management, distressed debt advisory due diligence and management consulting. More information about the company can be found at summerstreetRE.com, or by contacting Jack Mullen at 203-293-4844.
About Ranieri Real Estate Partners LP
Ranieri Real Estate Partners LP (RREP), founded in 2010, is part of Ranieri Partners, an investment management company focused on financial services opportunities. RREP provides global advisory, investment management and capital market solutions to participants throughout the commercial real estate spectrum. The Firm is dedicated to serving as a valuable partner in all phases of commercial real estate ownership. The Firm works with entities including owner/operators, financial institutions, and Government Sponsored Enterprises. The RREP team brings deep real estate industry expertise and leverages the intellectual capital of the broader Ranieri platform. More information about the company can be found at ranieripartners.com.
About WL Ross & Co. LLC
WL Ross & Co. LLC, founded by Wilbur L. Ross, Jr. and based on New York City, has sponsored and managed more than $10 billion of private equity investments since its inception in 2000. Many of these investments have been in the financial sector, such as banking, loan servicing and insurance and the industrial sector, such as the steel, automotive, coal and rail space.