MIAMI--(BUSINESS WIRE)--LNR Partners, LLC, the nation’s largest special servicer, is pleased to announce the launch of a new website (https://transparency.lnrpartners.com) which enables users to quickly and easily access relevant information on all loans and REO assets in special servicing at LNR.
The website, the first of its kind to be instituted by a special servicer, was launched in conjunction with LNR’s ongoing efforts to foster greater transparency with respect to its special servicing activities.
Registered users will have free access to a constantly-updated database of information on loans in various stages of workout. In addition, the website will include the key terms of closed loan modifications (including fees collected), information on all foreclosed assets in REO, and properties that are being marketed for sale. The database can be accessed and sorted by any of the 137 CMBS Trusts for which LNR is presently the named special servicer, as well as by property type and location.
The website, titled “Window Into Our Workouts,” was designed to appeal to a broad spectrum of commercial real estate professionals, including CMBS investors, rating agencies, distressed debt investors, property investors, and brokers.
“In addition to being the industry leader in successful loan resolutions, LNR is committed to setting new standards for disclosure and transparency,” said LNR Co-CEO Toby Cobb. “This website is another major step in that direction. By enabling users to go straight to the source for accurate information on LNR-serviced assets, we are answering the call from the investor community, while also raising the bar for all special servicers.”
Added LNR Co-CEO Justin Kennedy, “We are thrilled that our initiatives to date have been positively received by the research community, bond investors, and rating agencies, and are pleased to be participating in the industry-wide effort now underway to create uniform disclosures for all resolved assets. We look forward to incorporating the results of those efforts into our website as a means to further inform investors of our work and showcase our achievements on behalf of the trusts we serve.”