Managing Director to Lead Southern European Expansion and Meet Increasing Demand for CRE Loan Advisory Services
Situs, a global provider of commercial real estate (CRE) advisory services and integrated process and technology solutions announced the appointment of Fernando Salazar Lacalle as Managing Director and Country Head of the firm’s new office in Madrid, Spain.
Reporting directly to Bruce Nelson, Chief Operating Officer of Situs, Fernando will be responsible for the expansion of all of Situs’ business lines into Spain and the surrounding Southern European market, including loan servicing, special servicing non-performing debt refinancing, and advisory.
Situs’ Southern European expansion follows a strong demand for CRE loan servicing and debt advisory services in Spain as a result of increased activity in the region from international investors. In July, 2014, Situs announced a joint venture with debt collection group Lindorff to service Spain’s non-performing debt market in order to best meet the underwriting, due diligence and loan advisory needs in all debt classes including CRE, consumer debt, residential mortgages, and small and medium enterprises (SME).
“To support the growth of debt transactions in Spain, as well as anticipated longer term needs across the entire Southern European marketplace, there was a clear need for an experienced, seasoned professional to build and lead our growth in this region,” said Nelson. “Fernando’s market knowledge, expansive network and expertise working with both local and international investors will be instrumental in meeting Situs’ near and long-term goals in this region.”
Fernando joins Situs from Servicing Advisors Deutschland where he was Head of International Clients and Managing Director Spain. Previously, he served as Head of Corporate Banking for a German CRE lender where he opened and managed several offices in Europe, guiding business development in Germany, France, Italy, Spain, Portugal, Belgium, Switzerland, Luxembourg, Greece, Cyprus and Turkey. With more than twenty years of experience in the banking and financial sector working with European banks, investors and advisory firms, Lacalle has provided financing solutions exceeding €20 billion and fiduciary services across the full spectrum of commercial real estate assets including offices, retail, logistic, business hotels and mixed portfolios.
“As the Spanish commercial real estate market recently reached post-financial crisis highs, this is an extremely exciting time to be leading Situs’ growth in the Southern European market,” said Lacalle. “I look forward to working with the Situs team to continue to provide the exceptional loan servicing and advisory practices that the firm is known for, not just in Europe, but globally.”
Globally, Situs has over €70 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 in Europe, including Merry Hill-Deco 2012, Florentia 2012, Taurus 2013 GMFI, Chiswick-Deco 2013, and Debussy DTC PLC transactions. As special servicer, it is responsible for over €700 million of troubled assets in Europe.