Situs Launches New Lending Risk Division
Industry pioneer to head new division focused on due diligence and risk advisory for residential, consumer, SME and other structured finance products
Situs, a global provider of commercial real estate (CRE) advisory services and integrated process and technology solutions announced the appointment of Tim Keast as Executive Managing Director, who will be based out of Situs’ European headquarters in London. Working with Bruce Nelson, Chief Operating Officer of Situs, Tim will be responsible for the expansion of Situs’ traditional services beyond commercial real estate to include other asset classes such as residential, consumer, SME, and other structured finance debt.
Tim Keast to Focus on Southern Europe
In his new role with Situs, Tim will assist in broadening Situs’ reach in Southern Europe, including Italy, Greece and the Balkans. In addition, Tim has extensive experience in Spain and will work with the newly opened Situs Madrid office, headed by Fernando Salazar Lacalle. He will also continue to build on the efforts of the joint venture between Situs and Lindorff, one of the leading outsourced receivables management company in Europe.
Leadership Perspective on Tim Keast Appointment
Bruce Nelson, COO of Situs, said “We are most fortunate to be able to add an industry pioneer like Tim to our Situs team. This is an integral step in our commitment to deliver value add advisory services to our clients across all asset classes. Tim’s leadership and expertise will be welcomed by both our staff and our clients.”
Tim adds, “Having known and worked with Situs for a number of years, I am truly pleased to join such an outstanding organization and am excited to have the opportunity to continue to build a world class advisory business. With our expansion to southern Europe we will be able to meet our client needs throughout Europe.”
Situs Expands Servicing Footprint Across Europe
Globally, Situs has over €71 billion in primary servicing and asset management, and is one of the largest third-party servicers in Europe. Since the beginning of 2012, it has been named the primary and/or special servicer on the majority of the securitizations issued including Deco 2014 Gondola, Pangaea Funding 1 plc, GRF2-2013, Debussy DTC plc, Taurus 2013 GMFI plc, Florentia Limited, Deco 2013 – CSPK Ltd and Deco 2012 – MHILL Ltd transactions. As special servicer, it is responsible for over €700 million of troubled assets in Europe.
