Special Servicing:
Maximising returns

Hatfield Philips specialises in special cases: we have to, because in the current market environment, every loan is special.

Long rated as a Special Servicer of European structured finance transactions, our London and Frankfurt Special Servicing teams are seasoned CMBS, CDO and balance sheet  loan workout specialists. From Austria to Iberia, and from Sweden to Spain, we’re conversant, figuratively and literally, in the languages of Europe’s commercial real estate market and its participants.

Working on a non-prescriptive, case-by-case basis, we ensure that prior to any transfer to Special Servicing each loan is reviewed by our Senior Credit Committee. From there, our brief is simple: recover maximum value at minimum cost. That may mean knowing a bad valuation when we see it…recognising the potential that a change of use would unleash…convincing tenants of the logic of a restructured or regeared lease…or more advanced tactics, like the strategic use of dilapidations.

We are known for our associates’ comprehensive skill, which translates into most contingencies being handled in house – another way we achieve cost efficiencies. But in cases that merit more specialised expertise, we solicit our proven pool of outside talent – local surveyors, asset managers, even local eyes and ears.

Our surveillance and collateral management services include asset reviews, re-underwriting, valuations, portfolio surveillance and risk management, pipeline management, and loan sales.